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MINUTES OF
Board of Regents
of
Stephen f. Austin State University
VOLUME NO. 44
April 19, 1979
Nacogdoches, Texas
INDEX
Minutes of the Meeting
Stephen F. Austin State University
Board of Regents
held in Nacogdoches, Texas
April 19, 1979
VOLUME NO. 44
Page
79-49 Election of Chairman 44-2
79-50 Election of Vice Chairman 44-2
79-51 Election of Secretary to the Board 44-2
79-52 Approve of Minutes of February 3, 1979 44-2
79-53 Summer School Faculty and Staff Appointments 44-2
79-54 Faculty fT Staff Appointments 44-2
79-55 Resignations 44-5
79-56 Changes in Status 44-7
79-57 Leaves of Absence 44-8
79-58 Promotions 44-9
79-59 Promotions to Emeritus Status 44-11
79-60 Tenure Awards 44-11
79-61 Retirements 44-12
79-62 Approval of Request for Major Concentration of
Business Data Processing in the B.B.A. Degree
Program 44-12
79-63 Approval of Request for a Bachelor of Science in
Rehabilitation Degree Program for Transmission
to the Coordinating Board, Texas College and
University System 44-12
79-64 Approval of Request for a Bachelor of Social Work
Degree Program for Transmission to the Coordinating
Board, Texas College and University System 44-13
79-65 Approval of Compensation for Teaching Off-Campus
Courses 44-13
79-66 Approval of Amendment to Retirement Policy 44-13
79-67 Approval of Faculty and Staff Appointments for
Nine-Months Employment 44-13
79-68 Approval of University's Admission Policy for High
School Graduates 44-13
79-69 Designation of Support for University Scholars
Program 44-14
79-70 Approval of Statement of the Board of Regents Con
cerning Student Government Inquiry 44-14
79-71 Resolution to Dr. Gordon Beasley - 44-14
79-72 Authorization to Sell $1,250,000 SFASU Student Housing
System Revenue Bonds, Series 1979 44-16
79-73 Authorization to Sell the $5,500,000 SFASU Combined Fee
Revenue Bonds, Series 1979 44-37
79-74 Approval of Rental Rates for University Woods Apart
ments - Phase 1 (Nos. 301 - 332) 44-53
Page
79-75 Approval of Assessment of Student Union Building
Operating Fee 44_ 53
79-76 Approval of Assessment of Building Use Fee 44-53
79-77 Approval of Budget Adjustments 44-53
79-78 Amendment of Room and Board Rates Beginning 1979
Fall Semester 44-53
79-79 Approval of Contract with Allen M. Campbell Company--
University Center Expansion-Remodeling Project 44-54
79-80 Approval of Project Budget for University Center
Expansion-Remodeling Project 44-76
79-81 Approval of Contract with F. R. Lewis Construction
Company - Paving 1979 44-76
79-82 Approval of Contract with John Lee Slaughter,
Incorporation - Painting East Tower of Dorm 17 44-92
79-83 Authorization to Complete Planning, Obtain Bids,
and Award Contracts (upon Approval of Chairman
of Board) on Four Projects 44-1Q8
79-84 Approval of Change Order No. 1 - Fine Arts Building
Cooling Tower 44-iqs
MINUTES OF THE MEETING
BOARD OF REGENTS
STEPHEN F. AUSTIN STATE UNIVERSITY
HELD IN NACOGDOCHES, TEXAS
PRESENT:
PRESENT:
PRESENT:
April 19, 1979
Bryce> aairman of the Board
Members: Homer Bryce of Henderson
Ernest Powers of Carthage
James I. Perkins of Rusk
Walter C. Todd of Dallas
Mrs. Peggy Wright of Nacogdoches
Robert E. Samuel, Jr. of Madisonville
Glenn Justice of Dallas
Joe Bob Golden of Jasper
Absent: Mrs. George Cullum, Jr. of Dallas
C. G. Haas, Secretary to the Board
Dr. William R. Johnson, President of the University
Dr. Billy Joe Franklin, Vice President for
Academic Affairs, SFASU
Dr. Gordon Beasley, Vice President for
Student Affairs, SFASU
Robert Provan, Legal Counsel, SFASU
Visitors: Dana Sneed, SGA President
(Students) Kathy Cunningham, Editor of Pine Log
Paul Robin, Hall Improvements Chairman of RHA
Billy Askings, representing P. E. Department
Lum Edwards, representing P. E. Department
Greg Powell, Liberal Arts Senator
Blake Sills, RHA President
Visitor: Lesa Sims, Daily Sentinel Reporter
79-49
Upon motion of Regent Perkins, seconded by Regent Golden, with all members
voting aye, it was ordered that Regent Bryce be elected as Chairman of
the Board.
79-50
Upon motion of Regent Perkins, seconded by Regent Golden, with all members
voting aye, it was ordered that Regent Powers be elected as Vice Chairman
of the Board.
79-51
Upon motion of Regent Perkins, seconded by Regent Todd, with all members
voting aye, it was ordered that C. G. Haas be elected as Secretary to the
Board. J
79-52
Upon motion of Regent Todd, seconded by Regent Justice, with all members
voting aye, it was ordered that the minutes of February 3, 1979, be approved.
79-53
.Upon motion of Regent Justice, seconded by Regent Powers, with all members
voting aye, it was ordered that the 1979 Summer School Faculty and Staff
appointments as submitted under separate cover be approved.
79-54
Upon motion of Regent Todd, seconded by Regent Powers, with all members
voting aye, it was ordered that the following individuals be employed for
the positions, dates, and salaries indicated:
1. Division of Applied Arts and Sciences
Dr. Mary Appleberry
Dr. John Austin
Mr. Richard Bales
Dr. Arthur Benoy
Dr. B. G. Bizzell
Dr. Duke Brannen
Dr. Robert Brooks
Dr. Bennett Cooksey
Dr. George Cooper
Dr. Harry Downing
Dr. Raymond Eastman
Dr. Ralph Eddins
44-2
Dr. Donald Evans
Dr. Don Fare
Dr. Thomas Franks
Mr. Charles Gardner
Dr. William Heeney
Ms. Valdyne Henderson
Dr. Harold Hill
Dr. Jerry Irons
Dr. Jere Jackson
Dr. Sue Jones
Dr. Langston Kerr
Mr. Johnny T. Long
Dr. James McReynolds
Dr. Samir Maamary
Dr. Norman Markworth
Dr. Morgan Moses
Dr. Milton Payne
Dr. David Petty
Dr. Rebecca Raburn
Dr. Odis Rhodes
Dr. Elvia Rodriguez
Dr. Jose Rodriguez
Ms.. Jean Rudisill
Dr. Dwane Russell
Dr. Alfred Shivers
Dr. Frank Smith
Dr. Stephen Smith
Dr. Kurt Stanberry
Dr. M. B. Wade
Dr. Ralph White
2. Department of Accounting
Ms. Normah J. Atherton, 27, B.B.A. (Stephen F. Austin State Uni
versity), C.P.A., Lecturer (25% time) of Accounting at a salary rate
of $1,500 for the Spring Semester, 1979, only.
Mr. Billy Wayne Wilson, 34, M.B.A. (University of Texas-Austin),
Lecturer (25% time) of Accounting at a salary rate of $1,500 for the
Spring Semester, 1979, only.
Mr. Clyde E. Sheffield, 55, B.B.A. (Southern Methodist University),
C.P.A., Lecturer (25% time) of Accounting at a salary rate of $1,500
for the Spring Semester, 1979, only.
3. Department of Communication
Ms. Patricia Ann Kasselman, 25, M.A. (Stephen F. Austin State Uni
versity), Graduate Intern in Communication at a salary rate of $4,500
for the Spring Semester, 1979, only.
44-3
4. School of Forestry
Mr. Charles E. Allen, 30, M.S. (Stephen F. Austin State University),
Instructor (25% time) of Forestry at a salary rate of Si,545 for the
Spring Semester, 1979, only.
5. Department of Health and Physical Education
Mr. Thomas E Jordan, 47, M.Ed. (Stephen F. Austin State University),
Instructor (75% time) in Health and Physical Education and Assistant
Football Coach and Golf Coach (25% time) at a salary rate of $4 571 43
for the period of March 1 through May 31, 1979.
Mr. Robert J. Landry, 32, M.Ed. (Lamar University), Instructor
(75-o time) m Health and Physical Education and Assistant Football
Coach and Track Coach (25% time) at a salary rate of $4,571.43 for the
period of March 1 through May 31, 1979.
6. Department of Home Economics
Ms. Glenda Lowry, 35, M.S. (Oklahoma State University), Instructor in
Home Economics at a salary rate of $6,500 for the Spring Semester,
1979, only.
7. Department of Music
Ms. Eva Bailey, 54, B.M. (Stephen F. Austin State University), em
ployed as part-time faculty in the Department of Music to teach three
contact hours weekly at a salary rate of $450 for the Spring Semester,
1979, only.
Ms. Janet S. Greive, 39, M.M. (Peabody Conservatory), employed as
part-time faculty in the Department of Music to teach four contact
hours weekly at a salary rate of $600 for the Spring Semester 1979
only. '
8. Department of School Services
Mr. Timothy L. Roper, 32, M.Ed. (University of Texas-Austin), In
structor (25% time) in School Services at a salary rate of $1,500
for the Spring Semester, 1979, only.
9. University News Service
Ms. Martha Ann McConnell, 22, B.A. (Stephen F. Austin State Uni
versity), Photographer at a salary rate of $9,852 for twelve months,
effective April 1, 1979.
44-4
10. University Computer Center
Mr. Alan Hogan, 24, B.S. (Stephen F. Austin State University)
Computer Operator at a salary rate of $8,892 for twelve months, ef
fective March 6, 1979.
11. Student. Affairs Division
■Dr. Richard Dean English, 31, M.D. (Baylor College of Medicine),
Physician for Health Services at a salary rate of $31,000 for 10-1/2
months, effective February 1, 1979.
Ms. Berta Louise Bouchard, 53, Registered Nurse for Health Services
at.a salary rate of $11,268 for twelve months, effective March 26
1979. '
12. Personnel Office
Mr. David W. Fry, 33, M.A. (Stephen F. Austin State University),
Director of Personnel Services at a salary rate of $19,000 for twelve
months, effective April 1, 1979.
13. Physical Plant
Mr. Frederick Wyatt Tucker, Jr., 39, Manager of Custodial Services
at a salary rate of $13,000 for twelve months, effective February 12,
79-55
Upon motion of Regent Justice, seconded by Regent Todd, with all members
voting aye, it was ordered that the following resignations be accepted:
1. Department of Health and Physical Education
Mr. Tom Flood, Instructor and Assistant Football Coach, effective
February 28, 1979. Mr. Flood has accepted other employment.
Mr. John Hawkins, Instructor and Assistant Football Coach,
effective February 28, 1979. Mr. Hawkins has accepted other employment,
2. Department of Home Economics
Ms. Carol Ann Patton, Instructor, effective January 15, 1979. Ms.
Patton resigned by telephone following Christmas vacation.
3. Department of School Services
Ms. Vera Graham, Assistant Professor, effective January 31, 1979.
Ms. Graham has accepted other employment.
44-5
4. University News Service
Mr. Steve Dodd, Photographer, effective March 31, 1979. Mr Dodd
has accepted other employment.
5. University Computer Center
Mr. Tom Akers, Computer Operator, effective January 23, 1979 Mr
Akers has accepted other employment.
6. Personnel Office
1Q7Q* SailyDSUZamie Roman°> Di^ctor of Personnel, effective March 2,
1979. Ms. Romano accepted a position with another university.
1Q7Q* CMarlptte Barnes' Pei>sonnel Assistant, effective March 31,
1979. Ms. Barnes is moving to Woodville, Texas
7. Physical Plant
Mr. Jet 0. Lewis, Safety Officer, effective January 31, 1979 Mr
Lewis has accepted other employment.
Mr. Dana C. Brewton, Grounds Foreman, effective February 15 1979
Mr. Brewton has accepted other employment.
Mr. Harmond T. McCool, Mechanical Maintenance Supervisor, effective
February 16, 1979. Mr. McCool has accepted other employment.
8. Office of Traffic Safety
io7q' ^ J: W°1£f' ArSa Traf£ic Engineer, Effective February 12
iy/y. This branch office was closed on campus and relocated in another
area.
Mr. James P. Doane, Director, effective February 28, 1979 This
branch office was closed on campus and relocated in another area.
Ms. Sue Evans, Administrative Assistant, effective February 28
1979. This branch office was closed on campus and relocated in another
area*
9. Student Affairs Division
Dr. William G. Langston, Physician for Health Services effective
January 31, 1979. Dr. Langston is retiring.
Ms. Jo Beth Brown, Associate Administrator for Health Services
effective January 31, 1979. Ms. Brown has accepted other employment.
44-6
Mr. Willie Jones, Jr., Fatrol Officer I for University Police ef
fective February 14, 1979. Mr. Jones has accepted other employment.
Ms Jewel Hunt Assistant Catering Supervisor for U. C. Food Services,
effective March 5, 1979. Ms. Hunt resigned for personal reasons.
Dr. William H. Siddon, Physician for Health Services, effective
March 19, 1979. Dr. Siddon accepted a position with another hospital.
Ms Mary Ann Slagle, Registered Nurse for Health Services, effective
March 31, 1979. Ms. Slagle has accepted other employment.
79-56
Upon motion of Regent Wright, seconded by Regent Todd, with all members
voting aye, it was ordered that the following changes in status be approved:
1. Department of Administrative Services
Mr. Wilbert Love, Jr., from Administrative Services Secretary I to
Instructor in Administrative Services at a salary rate of $4,828.13
for 75% time, effective Spring Semester, 1979, only. Mr. Love was
needed m this capacity during the illness of a faculty member.
2. Department of English and Philosophy
Mr. Cydney W. Adams, Graduate Intern in English, from 25% time at
$1,125 to 50% time at $2,250, effective for the Spring Semester 1Q79
only. b ' ' ' '
3. School of Forestry
Mr. Larry Zack Florence, from Graduate Assistant (40% time) to
Research Associate (75% time) at a salary rate of $750 per month for
the Spring Semester, 1979, only.
4. Department of Secondary Education
Dr. William Heeney, Assistant Professor of Secondary Education
from a salary rate of $17,097 to $17,597, effective January 31,
1979. Dr. Heeney has assumed directorship of the Humble and Jasper
field sites.
5. Physical-Plant . ■ •
Ms. Mary Ann Lee, from Secretary I at a salary rate of $6,540 to
Coordinator of Workman's Compensation and Administrative Services
at a salary rate of $7,764 for twelve months, effective March 1, 1979.
44-7
Ms. Helen Louise Stanfield, from Accounting Clerk II at a salary
rate of $7,008 to Accounting Assistant at a salary rate of $8 592 for
twelve months, effective March 31, 1979. ' *
6. Personnel Office
Ms. Lanell Rae Kolb, from Inventory Assistant in the Purchasing
Office at a salary rate of $6,998 to Personnel Assistant in the Personnel
Office at a salary rate of $7,500 for twelve months, effective March 23,
7. Student Affairs Division
Mr. Jay P. DuPree, from Traffic Officer for University Police at a
salary rate of $5,904 to Police Officer I at $8,592 for twelve months,
effective January 1, 1979.
Ms. Martha Gose, from Billing Clerk for Health Services at a salary
rate of $6,108 to Office Manager at a salary rate of $7,248 for twelve
months, effective February 1, 1979.
Mr. David L. Smith, from Traffic Officer for University Police at
a salary rate of $5,904 to Police Officer I at a salary rate of $8,592
for twelve months, effective March 1, 1979.
79-57
Upon motion of Regent Justice, seconded by Regent Wright, with all members
voting aye, it was ordered that the following requests for leave be granted:
1. Department of Elementary Education
Ms. Macra Brunson, Instructor of Elementary Education, for the 1979-80
academic year. Ms. Brunson has requested an extension of her leave to
continue work on a terminal degree.
2. Department of English and Philosophy
Mr. Jarrell Richman, Assistant Professor of English, for the 1979-80
academic year. Mr. Richman has requested an extension of his leave
to continue work on a terminal degree.
3. Department of History
Dr. George Cooper, Assistant Professor of History, for the 1979-80
academic year. Dr. Cooper plans to do research and writing.
Dr. John Dahmus, Associate Professor of History, for the 1979-80
academic year. Dr. Dahmus has been invited to participate in a seminar
sponsored by the National Endowment for the Humanities at Brown University,
44-8
4. Student Affairs Division
Ms. Jackie M. Booker, Office Manager for University Center Food
Services, effective February 9, 1979, for eight months. Ms. Booker
has been granted a leave of absence for health reasons.
79-58
Upon motion of Regent Powers, seconded by Regent Wright, with all members
voting aye, it was ordered that the following recommendations for promotion
be approved:
From Associate Professor to Professor
1. Department of Art
Mr. John Daniel
Mr. James Snyder
2. Department of Chemistry
Dr. Bennie F. Walker
3. Department of Elementary Education
Dr. Mary Appleberry
4. Department of Management and. Marketing
Dr. Bobby Bizzell
5. Department of Psychology
Dr. Heinz Gaylord
From Assistant Professor to Associate Professor
1. Department of Art
Mr. Charles Jones
2. Department of English and Philosophy
Dr. William C.ozart
Ms. Maurice Cecil
Dr. Harry Dale Dawson
3. School of Forestry
Dr. Michael H. Legg
44-9
10
4. Department of History
Dr. John Dahmus
5. Department of Mathematics and Statistics
Dr. Wayne Proctor
Dr. Robert Yeagy
6. Department of Modern Languages
Mr. Edwin Shake
7. Department of Music
Mr. Melvin Montgomery
8. Department of Psychology
Dr. Bruce Bailey
Dr. Larry Pollock
9. Department of School Services
Mr. Bobby D. Bryant
10. Department of Secondary Education
Dr. William Heeney
From Instructor to Assistant Professor
1. Department of Computer Science
Ms. Camille Price
2. School of Forestry
Dr. Montague Whiting
3. Department of Geology
Mr. Martin Deuth
4. Department of History
Ms. Tommie Jan Lowery
5. Department of Sociology
Mr. William Toney, Jr.
These faculty have completed the requirements for promotion and have
been recommended by their department chairmen and deans.
44-10
11
79-59
Upon motion of Regent Samuel, seconded by Regent Todd, with all members
voting aye, it was ordered that the following promotions to Emeritus
status be approved, and that a letter be sent to each individual from the
Chairman of the Board.
1. School of Education
Mr. W. W. Dossey, Ph.M., Professor Emeritus of Health and Physical
Education for Men, Head of Department, effective May 1, 1979.
Dr. Alvera Griffin, Ed.D., Professor Emerita of Health and Physical
Education, effective May 1, 1979.
Dr. Leroy McClendon, Ed.D., Professor Emeritus of Secondary Edu
cation and Coordinator of Student Teaching, effective May 1, 1979.
Dr. Thomas P. White, Ed.D., Professor Emeritus of Secondary Edu
cation, effective June 1, 1979.
2. School of Fine Arts
Dr. Karl T. Schlicher, Ph.D., Professor Emeritus of Art, effective
May 1, 1979.
79-60
Upon motion of Regent Perkins, seconded by Regent Powers, with all members
voting aye, it was ordered that the following awards of tenure be made:
1. Department of Art
Mr. Jon D. Wink
2. Department of Computer Science
Mr. Denis M. Hyams
Ms. Camille C. Price
3. Department of English and Philosophy
Dr. William Cozart
4. Department of Health and Physical Education
Ms, MargeAnn McMillan
Dr. Carolyn B. Mitchell
5. Department of Music
Dr. Robert L. Blocker
44-11
12
6. Department of School Services
Mr. James Armsworth
7. Department of Secondary Education
Dr. William Heeney
8. Department of Sociology
Dr. Joy B. Reeves
9. University Library
Mr. Donald H. Richter
Ms. Bernice Wright
10. Department of Forestry
Dr. Michael Legg
Dr. Montague Whiting .
These faculty have completed the requirements for the awarding of tenure and
have been recommended by their department chairmen and deans.
79-61
Upon motion of Regent Justice, seconded by Regent Todd, with all members
voting aye, it was ordered that the following retirements be accepted:
1. Physical Plant
Mr. Jesse W. Millard, Custodial Supervisor III, effective January 31
1979.
Ms. Novelle Byrd, Accounting Clerk III, effective March 23, 1979.
79-62
Upon motion of Regent Justice, seconded by Regent Powers, with all members
voting aye, it was ordered that the request for a new major concentration of
Business Data Processing in the Bachelor of Business Administration degree
program be approved for transmission to the Coordinating Board, Texas College
and University System.
79-63
Upon motion of Regent Samuel, seconded by Regent Wright, with all members
voting aye, it was ordered that the request for a Bachelor of Science in
Rehabilitation degree program be approved for transmission to the Coordi
nating Board, Texas College and University System.
44-12
13
79-64
Upon motion of Regent Perkins, seconded by Regent Wright, with all members
voting aye, xt was ordered that the request for a Bachelor of Social Work
degree program be approved for transmission to the Coordinating Board,
Texas College and University System.
79-65
Upon motion of Regent Wright, seconded by Regent Powers, with all members
voting aye, it was ordered that instructors be compensated $800 base pay
for teaching off-campus overload courses plus $1.00 per mile round trip
(for one trip) and $300 base pay plus $1.00 per mile round trip (for one
trip) for courses taught off campus as part of a regular teaching load.
79-66
Upon motion of Regent Samuel, seconded by Regent Powers, with all members
voting aye, it was ordered that the policy adopted as Minute Order No.
74-123, adopted on January 25, 1975, be amended by retaining only the
first sentence of the Order, which is as follows:
"The official retirement age for employees of the University is
seventy years, and an employee shall be retired on August 31 "
next after attaining age seventy." ~
79-67
Upon motion of Regent Todd, seconded by Regent Samuel, with all members
voting aye, it was ordered that the faculty and staff appointments for
nine-months' employment, as submitted under separate cover, be approved.
79-68
Upon motion of Regent Perkins, seconded by Regent Todd, with all members
voting aye, it was ordered that the University's admission policy for high
school graduates be as follows:
Required Required
Rank in Class ACT Score o£ SAT (CEEB) Score
Upper Half ■ No minimum No minimum
required required
Lower Half 18 or higher 800 or higher
A student must be a graduate of an accredited high school and must present
a satisfactory test score, and must be graduated in the appropriate quarter
of his/her'graduating class. A student who does not meet college entrance
examination and rank-in-class requirements must attend summer school at an
44-13
14
accredited institution and pass a total of at least nine semester hours of
college transferable work and accumulate a total of at least 18 grade
points (C average) in order to be eligible for admission at Stephen F
Austin State University. Students attempting more than nine hours must
also present a C average. Students in the upper half of their graduating
class will be eligible for admission regardless of their ACT or SAT
scores.
79-69
Upon motion of Regent Todd, seconded by Regent Wright, with all members
voting aye, it was ordered that interest income from the following bequests
be designated for the support of scholarships in the "University Scholars
Program:"
Kerr Estate Fund
Shirley Creek Corporation Stock Fund
(M. M. Stripling Bequest)
Davidson Family Fund
79-70
Upon motion of Regent Perkins, seconded by Regent Samuel, with all members
voting aye, it was ordered that the following statement be approved, which
is in response to the Student Government inquiry, and the Secretary to the
Board shall send a copy to the Student Government Court.
STATEMENT OF THE BOARD OF REGENTS
The Board of Regents wishes to express its appreciation to members
of the Student Supreme Court for their comments in the committee
meeting on April 18, 1979. The Board believes that a clarifi
cation of its intention concerning the meaning of certain pro
visions of the Student Community Constitution will assist the
Student Supreme Court in determining its jurisdictional boundaries.
By its approval of the Student Community Constitution, the
Board intended, and does intend, for the Vice President for
Student Affairs and the President, respectively, to have final
appellate review of all matters brought before the judicial
branch of the Student Government. Also, by its approval, the
Board did not intend, and does not intend, for the Student Supreme
Court to have appellate review of any acts or omissions of the
University administrative officers, or their delegates.
We hope this statement will assist the Student Supreme Court in its
future deliberations.
79-71
Upon motion of Regent Todd, seconded by Regent Powers, with all members
voting aye, it was ordered that Dr. Gordon Beasley be commended for his
eight years of service to Stephen F. Austin State University with the
following resolution.
44-14
15
RESOLUTION OF THE BOARD OF REGENTS
STEPHEN F. AUSTIN STATE UNIVERSITY
WHEREAS, Dr. Gordon Beasley has served with distinction over the past eight years
as Vice President for Student Affairs at Stephen F. Austin State University, and
WHEREAS, Dr. Beasley has accepted the position of Vice President at the University
of Arkansas, and
WHEREAS, Stephen F. Austin State University has benefited significantly from Dr.
Beasley's leadership in the field of Studen t Affairs;
THEREFORE, be it resolved that the Board of Regents of Stephen F. Austin State
University expresses its appreciation to Dr. Gordon Beasley for his service to the University
and wishes him every success in his new position, and
BE IT FURTHER RESOL VED that Dr. Beasley be provided with a copy of this
resolution.
s/s Homer Bryce
Homer Bryce, Chairman of the
Board of Regents
Attest:
s/s C. G. Haas
C.G. Haas, Secretary
April 19, 1979
44-15
16
79-72
Upon motion of Regent Perkins, seconded by Regent Justice, with all members
voting aye, it was ordered that the University be authorized to sell the
$1,250,000 Stephen F. Austin State University Student Housing System Revenue
Bonds, Series 1979 to the lowest qualified bidder, First National Bank in
Dallas, Dallas, Texas, and Associates, and that the Chairman of the Board
be authorized to sign the documents related to the bond issue, as prepared
by Messrs. McCall, Parkhurst, and Horton with the assistance of Russ
Securities Corporation.
44-16
17
1 CERTIFICATE TOR
= RESOLUTION AUTHORIZING THE ISSUANCE OF BOARD OF REGENTS OF
STEPHEN F. AUSTIN STATE UNIVERSITY STUDENT HOUSING SYSTEM
j REVENUE BONDS, SERIES 1979, S1,25O,QQQ
THE STATE OF TEXAS
COUNTY OF NACOGCOCHES '
J STEPHEN F. \USTIU STATE UNIVERSITY
1
j Q . , ;v;e' ^.undersigned officers of the Board of Regents of
|| said University, hereby certify as follows:
I 1- The Board of Regents of said University convened *n
j REGULAR MEETING ON THE 19TH DAY OF APRIL, 1979, at -he r-gGla-j
designated meeding place, and the roll was called of fhe duly*"
|| constituted officers and members of said Board, to-wit:
j Homer Sryce, Chairman James I. Perkins
Smest Powers, Vice Chairman R. E. Samuel', Jr.
Mrs. George Cullum, Jr. Walter C. Todd
:! Joe Bob Golden Mrs. Tom Wright
| Glenn Justice
, . Charles G. Haas, Secretary
and all of said persons were present, except the following
absentees : ^ Ci&LL m< "
thus _constituting a quorum. Whereupon, among ocher business,
Oie rollowmg was transacted at said Meeting: a written
RESOLUTION AUTHORIZING THE ISSUANCE OF STUDENT HOUSING SYSTEM
REVENUE 30NDS
was duly introduced for the consideration of said Board and -Pad
in null. it was then duly moved and seconded that sa;d Resolu
tion oe adopted; and, after due discussion, said motion/carrying
t c1^ adoption of said Resolution, prevailed and carried by
tne following vote: *
AYES: All members of said Board shown present
above voted "Aye".
NOES: None.
2,^ That a true, full, and correct copy of the aforesaid
Resolution adopted at the Meeting described in the abov* and
roregomg paragraph is attached to and follows this Certificate;
tnat saia Resolution has been duly recorded in said 3oard's
minutes of said Meeting; that the above and foregoing oarac;r*ph
is a true, full, and correct: excerpt from said Board's" minut-s
of said Meeting pertaining to the adoption of said Resolution;
tnat the persons named in the above and foregoing paragraph ar=
.ne duly chosen, qualified, and acting officers and members of"
said Board as indicated therein; tnat each of the officers »nd
members or said Board was duly and sufficiently notified offi
cially and personally, in advance, of the time, pLace~~ard~
purpose of the aforesaid Meeting, and that said Resolution would
oe introduced and considered for adoption at said Meeting, and
each of said officers and members consented, in advance, to che
holding of said Meeting for such purpose; and that said Mating
was open to the public, and public notice of the tine, place,
and purpose of said meeting was given, all as reauired bv
Vernon s Ann. Civ. St. Article 6252-17.
SIGN ED AMD SEALED the 19th day of April, 1979.
secretary, 3oard of Regents Chairman, 3oarc of Regents'
SEAL
44-17
18
RESOLUTIOM
c^S2P'"G^S ^SUANCZ OF 3CARD OF REGENTS OF
5v5^?Cp;^T^^IATE ^IV^^ STUDENT HOUSING £-i£l^^.L^T^-M'JE 3C^S , SERIES 1979, 31,250 000
i
; i
YEARS
1980
1931
1932
1933
1984
1935
19-86
1987
1933
1939
1990
1991
MATURITY DATE:
AMOUNTS
$25,000
25,000
25,000
30,000
30,000
30,000
35,000
40,000
40,000
45,000
45,000
50 ,000
Section 3. INTEREST. Than the 3onds scheduiad to -at
duringg thne years, respectivelly , se _ .^_
interest at the following rates per annum:
maturities 1930 through 1990,
maturities 1991 through 1994.,
maturities 19-9 5 through 19 96,
maturities 19 9' through 1993,
maturities 1999 thr.ouch 2COO,
below shall bea>-
6.50%
5.00%
6.10%
5.251,
5.40%
maturities '2001 through 2002, 5.50%
44-18
19
Said interest shall be evidenced by interest coupons which
snail appertain to said 3onds, and which shall be payable in
the manner provided and on the dates stated in uhe*FORM 0F~
3OND set forth in this Resolution.
Section 4. GENERAL CHARACTERISTICS. That the 3onds and
interest coupons shall be issued, shall be payable, may be
redeemed prior to their scheduled maturities," shall have t-he
|| characteristics, and shall be signed and executed (and said
ij Bonds shall be sealed) , all as provided, and in the manner
jj indicated, in the FORM OF 30ND set forth in this Resolution.
'| _ _Section 5. FORMS. That the form of the 3onds , including
the norm of Registration Certificate of the Controller of Public !
Accounts of the State of Texas to be printed and endorsed on !
each of said 3onds, and the form of the aforesaid interest j
coupons which shall appertain and be attached initially to i
each of said 3onds, shall be, respectively, substantially as j
follows: '
FORM OF 3OND
"I0- $5,000 j
UNITED STATES OF AMERICA
STATE OF TEXAS
3OARD OF REGENTS OF
STEPHEN F. AUSTIN STATE UNIVERSITY
STUDENT HOUSING SYSTEM REVENUE BOND
SERIES 1979
ON OCTOBER 1, , THE BOARD OF REGENTS OF STEPHEN F.
AUSTIN STATE UNIVERSITY, for and on behalf of Stephen F. Austin
State University, promisses to pay to bearer hereof the orinci-pal
amount of
FIVE THOUSAND DOLLARS
and to pay interest thereon, from date hereof, at the rate
°f % ?er annum, evidenced by interest coupons payable on
October 1, 1979, and semiannually thereafter while this 3ond
i s outstanding.
;| THE PRINCIPAL of this 3ond and the interest coupons apper-
■j taming hereto shail be payable to bearer, in lawful monev
■■ or the United States of America, without exchange or collection i
:j charges to the bearer, upon presentation and surrender of this !
,; bond or proper interest coupon, at the following, which shall
;! constitute and be defined as the Paying Agent for this Series :
i of bonds: • I
1 . • ■ !
] COMMERCIAL NATIONAL 3ANK, NACOGDOCHES, TEXAS, or at ■
.1 the option of the holder, at THE CHASE MANHATTAN 3ANK, I
!j N.A., NEW YORK, N. Y.
•I
;j THiS 3OND is one of a Series of negotiable, serial; coupon
:j Bonds datad April 1, 1979, issued in the principal amount of i
■j $1,250,000, for the purpose of providing funds to finance addi- j
!; ticnal housing, for and on behalf of the L-niversitv on its campusi
,•! at Macogcoches, Texas, to-wit: construct and eauip" thirty two " j
;| apartments to house one hundred and four sincle students. !
i " i
] _ ON OCTOBER 1, 1933, or on any interest payment date there- i
;; after, any outstanding 3onds of this Series may be redeemed prior!
:j to their scheduled maturities, at the option of said 3oard, "in !
•j whole or in part, for the principal amount thereof and accrued •
!! interest thereon to the date fixed for redemption, plus a premium)
on the principal amount of each 3ond so called for "redemotion as ;
follows:
44-19
20
j E SS2I i: ill! S£$ *# j }■ Hll
0% ir rsdeeraed October 1, 1993 and thereafter"'
4:
Agant
Lien
-1«
acratary, 3oard o: Regents xxxxx
Caairman, Board of Regents
44-20
21
COMPTROLLER'S REGISTRATION CERTIFICATE: REGISTER NO.
of the State of^s
^ th. Cooler of
thiS 3°nd has been examined, =e~
^^ '°V ^e Attorney General
Witness ray signature and seal this
jIj.c Accouacs of rhe
\f on
FORM OF IMTE^ CQWPON
MO.
ON
i THE 3OARD OF REGENTS OF
-^ on behalf of Stephei
to bearer hereof" the
|i
COMMERCI.H.
.na Sirr
of this obligation out of
taxation. Bond nS.
j Secretary, 3oard of Regents
*fn? . ^nt to demand paymen
S raX3ed Or to be rai3e* by
uiax.^i, J^fo-- Regents
Section 5. STUDENT- HOUSING SYSTEM Tsa^ *.hp p^^a^ •
in th. M.oiutlon .dops.d onLy'x9?""9« ^-Sr?"J "i''*™"
"»• " '0™ ■■»'- <«•
44-21
22
-■SFINITIONS. That throughout: this Resolution,
t3rinS as ased hers^ shall have the mailings set
" *** **** here°f 3?ecifica^ indicates |
The term "Additional Bonds11 shall mean the additional
parity revenue bonds vnich the Board has the right to issue unde-
-he .erms ana conditions stated in the Resolutions authorizing ~ ■,
tne issuance or the. Parity 3onds. j
I
nn Jhl T'™ "Soardl1 and/°r "3oard of Regents" shall mean the
Bc^d °J p9^;"3 °- Staphen F« Au«in State University, formerly
Beard or Regents, State Senior Colleges.
nf e^u "I 3onds shall mean the $1,250,000 3oard of Reaents
or otephen F. Austin State University Student Housing Syst-m
Revenue Bonds, Series 1979, dated April 1, 1979, authorized by
tnis Resolution. 2
-« -• Tht ^^ "CouPons" 3h^^ --nean the interest coucons attached
to tne Bonds .
~- A The -2r™ "Current Expenses" when used with reference to the
otudent housing System, the Encumbered Facilities, and/or the
established System, shall include all necessary operating ex
penses, current maintenance charges, expenses of reasonable ud-
<eep and repairs, cost of food served, properly allocated share
or cnarges ror insurance and all other expenses incident to th-operation
of such Student Housing System and/or Encumbered
Facilities and/or Established System, but shall exclude deprecia
tion, all general administrative expenses of the Universitv and
payments required to be made into the 196 5 System Repai- and
Replacement Reserve Account and any Repair and Replacement
Reserve Accounts created and established by the 3oard in -onn-c-tion
with the issuance of any of the Encumbered Facilities Bonds.
The term "Encumbered Facilities" shall mean and include
collectively the following facilities now owned and operated by
tne University: (a) Dormitories Mos. 1 through 3, 5, and 7
through 16; (b) Apartments Mos. 1 through 70, Apartments Mos
Mos °U92 96' APartments Nos. 127 through 166, and Apartments j
(d) the Student Activity and clntral^inin^aall ^uiMingf1 lS ' \
together with all extensions, additions and improvements -ner-co J
ana replacements thereof, hereafter constructed or acqui—d ~ |
term "Encumbered Facilities 3onds" shall mean and
pewm,a r allowing outstanding Stephen F. Austin State College
Re/enue Bones, namely: Housing System Revenue 3onds o- 1962
| oeries "A", Series "3", and. Series "D", dated Octobe-*"i 1962
;! ^sing System Revenue 3onds of 1963, Series "A", dated'October
|! October'11964USing3y3tSm Revenue 3onds' Series 1964, dated
|| The term "Established System" shall mean and include ail of
[I the Student Housing System which has been comoleted and avatlafal-
;| ror use and occupancy for not less than one full fiscal year. ~i
ji !
! ' The term "Holder" shall mean the bearer. |
\ ^ ^ Thei term "Net Revenues" as applied, to the Student Housirg !
o/^sm snail mean -he gross revenues derived from the ooeration i
and/or ownersni? thereof aftar deduction therefrom of onlv the i
r..i—««+. expenses of said System. * I
44-22
23
J
:! revenues derLpd^-^^e^D ^S^enues" ^haii ™** ^ gro-s:
! EEnnctumebrereedd FFaacicli^t^iess, "Iinnccl^udd^nf^ ^-^ ^a''" ovnsrshiPP.
:j levy and collation Without I^tioT's^o ^'^
ties and the a^unis
j i
?- f9^1 "P-:it* 3onds" 3haii mean collectively: U) the
l - U^- P-3n?- AUStin 3tate Coli2^ Building Revenue
.ds o. 1963/ series A, dated October 1, 1965; (O St-ph»n =•
^!ti"\ a5e CoU9l5e 3uilding Revenue 3onds of 1965, Series a]
dated October 1, 1965; (d) Stephen F. Austin State Coll-ge
student riousing System Revenue Bonds of 1967, datad Apri? 1
The Chase Manhattan 3ank, N. A. , Mew York, N. Y.
The term "?ro]ect" shall mean the thirty two
dents
i
Stepnen e. Austin State College in the Resolution adooted bv
mean collec- |
a^ * Th! 5ara '<1965 System Revenue Fund Account", "1965 3v3t-n
3ond and Interest Sinking Fund Account" and -1963 S ■* *"■• ■ **v-**- - '-uivj, rt^t-uuii w t j.^03 5V5tam
•est Sinking Fund Account", and "1965 System* Repair
t Reserve Account" shall mean respectively the" !
-h6 3°ard' in 3aid *as°^tion ofMav 19,
-"uance or its Stephen F. Austin State
i
°f tila Stud.nt Housing
?^; "tini7er=it'/" »ha;i mean Stephen F. Austin State
ity,, coraerly known as Stephen F. Austin State College.
and al-edb"J"- ?L£^ °/ .SEVSil^s- lt is hereby covenanted and ag.sed and so ordered by the Board that the 3onds, ^^<.
S«i"r-A» T/f Stat^?Oi'age 3uil^ng Revenue Bonds cVl96
be equally and ratably secured by and payable from:
44-23
24
• _ U) A nrst lien on and ol-adge of the net revenues de-v*d
:| rrom the operation .and/or ownership of the Student Housing Svs-j
tern consisting of (a) Dormitory Mo. 17, Dormitory Mo 13 ^a~ier
:j ^art?ents (formerly Dormitory Mo. 19) Single Student Apartments
:l Une Project) and East College Cafeteria, together with ai 1
I, additions ana improvements tnereto, and replacements *-h«^o-ji
^o?f-Sr ccns"ruct:9d or acquired; and (bf such additional *'
I Housing'Iystem^' " 3°me'.futurs ^te, be added to the Student
ji
,j (ii) A lien on and pledge of the nee revenues derived ->om
Tht rnff"1?11 5ld/or ownership of the facilities now comprising
the College s Housing System 196 2, being part of the Encumber-d
S 1fJ;v-les' "o-r^-: Dormitories Mos. 7, 9, 10, 12, 13, 14 15
and 16, Apartments Mos. 55 through 70 (16 student apar-ments)•
Apartments Mos. 200 through 299 (100 student apartments? «d'
Faculty Apartments Nos.l through 16 (16 apartments); together
with all additions and improvements thereto, and replacements'
tnereoc, nereafter constructed or acquired, sub3ect only to -he I
existing liens thereon to .secure the following outstanding bonds !
or Stepnen P. Austin State College: Housing System Revenue Bonds *
ot 1962, Series A, Series 3, and Series D, dated October 1, 1962-1
, fusing System Revenue Bonds of 1963, Series A, dated October- 1 !
ij l*bJ; and dousing System Revenue 3onds, Series 1964 dat^d " ' '
Octooer 1, 1964 (hereinafter sometimes collectively called -he
j 'dousing System 1962 Bonds"). *
''
jj (iii) A lien on and pledge of the net revenues derived from
tne operation and/or ownership of:
\ (a) Dormitory Mo. 1, Dormitory Mo. 2, Dormitory Mo 5
.1 Dormitory Mo. 6, Dormitory Mo. 3, Dormitory Mo. 11, Apartments ' I
f3' \^r?^h 54, Apartments Mos. 73 through 96, Apartments !
Nos. 127 through 166, and the Student Activity and Central j
Dining Hall 3uilding, together with all extensions, additions
and improvements thereto, and replacements thereof, hereaft—
constructed or acquired, without limitation as to rat- or ~~ '
amount, or a Student Activity Building Use Fee, subiect only i
«-o secure the outstanding Housing
;i (b) Dormitory Mo. 3, together with all additions and
j improvements thereto, and replacements the*-«of, he-«aft*r I
constructed or acquired, sub3ect only to the ^xist-ng i^ns
| tnereon to secure the outstanding Housing System 1962 3onds. !
|| That such liens and pledges ara hereby irrevocably created and I
i made according to the terms of.this Resolution, and the 3oa-d, j
.j its officers and employees, shall- execute, perform and carry out I
., the terms thereof in strict conformity with* the provisions of " !
': this Resolution. . u j
:! • I
;| _ Section 9. 3ONDS TO CONSTITUTE SPECIAL OBLIGATIONS. ^hat j
:| the 3onds, and the interest thereon, shall constitute special j
ij obligations of the 3oard, payable solely from the net revenues
if nerem pledged, and such obligations shall not constitute an
;. indebtedness of the State of Texas or Stephen F. Austin Stat*
University.
Section 10. COVENANTS WITH RESPECT TO ENCUMBERED•^ACILITT"S
EXISTING LIENS. The 3oard covenants and agrees, and in is*"
the intention of and required by this Resolution and the Resolu
tions heretofore adopted by the 3oard authorizing the issuance
or its bonds now outstanding against the Student Housing Sv37:3m
44-24
25
SFHir
Revenues") shall be deoosited to
^ 5^ t tne 1965 System 3ond and In"—*s- Siak-
.-Account and the 1965 Svst^m P^n^i- ar^ X V
principal and mcares: or refunded on * oar< tv vr-h an ™n^-
n°td "■ Stud"nt «oui"i1y«.-».aiil°°nC-theC°
llege'S Housi-^ 3^tem L962,
Corau-tO'V Mo. 9, Dormicorv Mo. 10,
Mo l\ ^oSiti^. f ^5°^ Mo- 13' Dorm to ry Mo. U, Dormitory
me^ts Nos Too Sroch 99 ^f^nt? Nos • 55 through 70, Apart-lfi
shall k- v-'-rogn Z3^'- and --acuity Apartments Mos. 1
throuah
all "tL^ lncor?orated ^to the Student Hoi S i
S
- g '- -ay lncor?orated ^to the Student Housing System
CaargS' inC0me and "venue derived from the
(b) After either of such occurence,
Apartments Nos. 127 through ^66 rh«
i
^ Revenue 3onds of 196 3, Serias A, dated
HiirSs^i . i
a 3tUdent Housin^ System, and all rentals,
- raTenUS dsriVed from che °P«"ion aAd/^
=acilities shall be pledged along with the
Avenues of the Student Housing Svstsm as a -"i-s- l
payMnt of tiie. Student Housing system 3ondl (th^'v^'
was removed from the Sncumbered ?aciliti.s bt-S
;o the is
Section 11. 1965 SYSTEM RE^/EMUE FUN D
44-25
26
(already established); that said 1965 Svstem Revenue *und Ac
count snail be held in the custody of the 3oard, seoarar- \rS
apart _.rom ail other funds, and shall be maintained" so long 'as
any or the Parity Bonds are outstanding in a bank which is a
memoer or the Federal Deposit Insurance Corporation; and that
all Current Expenses of the Student Housing Svstem snail be
Account ^ a flr3t Charge from the i965 System Revenue Fund.
^nr,JrtCtiOn 12' I965 3YSTSM 3OND AND INTEREST SINKING FUND
ACCOUNT. That concurrently with the delivery of the 3onds to
tne purcnasers, there shall be placed in the 1965 System 3ond
ana Interest sinking Fund Account (already established) , so much
oe the proceeds from the sale of the 3onds as represents accrued
interest paid thereon, and further, that the 3oard will, aft-r '
providing :or the payment of Current Expenses of the Student i
Housing System, transfer from the 1965 System Revenue Fund Ac- |
f°un^n!J}d other Pledged revenues and deposit to the credit of :
uhe 196o System Bond and Interest Sinking Fund Account, the i
following amounts in addition to the payments and deoosits othe—!
wise required to be made therein. " ~ j
(1) On_or before September 15, 1979, an amount of money
surncient to pay the interest to become due on th*
Bonds on October 1, 19 79;
(2) On or before March 15, 19 30, and on or before each
* succeeding September 15 and March 15, until the
Bonds are no longer outstanding, an amount of money
equal to the next maturing interest payment on the
Bonds;
(3) On or before March 15, 1980, and on or befor* each
September 15 and March 15 until the 3onds are no
longer outstanding, an amount of monev equal to
one-half of the next maturing principal oayment on
the Bonds; "
||
:| C4) On or before September 15, 1930, and on or before
;| each March 15 and September 15 thereafter, a sum of
«j money equal to one-eighth of the average annual debt j
S| service on the Bonds until a total of eight such '
Ij payments have been made, and thereafter, such sums !
! annually as may be necessarv to maintain the r^crired j
;j reserve on the Parity 3onds". !
i! ,rPnr4ftio^ 13.« 1965 3YSTEM REPAIR AMD REPLACEMENT RESERVE \
, ACCOUNT. That as soon as the additional reserve hereinabove
i providea -or has been established in the 1965 Svstem 3ond and
ji Interest Sinking Fund Account, the Board shall increase the :
:| annual deposits into the 1965 System Repair and Replacement " i
| Reserve Account, already established, by die sum of $9,000
annually, until the funds and/or investments therein shall ac- i
^Tn9?™ S400'000' ^d thereafter, such sums but not more tian* j
.40,000 annually as may be required to restore and maintain the
balance or 3400,000. The Board shall have the right to draw on
and use the monies in the 1965 System Repair and Replacement
Reserve Account :or the purpose of paying the cost of unusual !
or extraordinary maintenance or repairs, renewals or replacements1,
ana tne renovating or replacement of the furniture and -auipmen* «
not paia as part of the ordinary and normal expense of -he ~ I
otudent Housing System operations; provided, however, that in "he>
event the zunds and investments in the 1965 System 3ond and ^r-terest
Sinking Fund Account shall b dd
d ever be reduced below th* ~*~
quired debt service reserve, f'jnds on deposit in the 13gT 3ys^
Repair and Replacement Reserve Account shall be t^r.s-^r-^ ^o"
tne I96o System Bond and Interest Sinking Fund Account -o^ie
extent required to eliminate the deficiency in that Account:.
3
44-26
27 |
i
I
i
Section 14. (jse OF SURPLUS FUNDS. The money in the 196 5 ■
aystem Revenue Fund Account at -he close of each school t«rm '
in excess of sums needed for the payment of Currant Expenses ;
or the otudent Housing System and for all oayments and'deoosits •
required to be made into the 19 65 System 3ond and Int-r-st >
Sinking Fund Account and the 1965 System Repair and Replacement i
Reserve Account may be used by the 3oard for: 1
(1) The redemption of outstanding Parity 3onds on the n«-<t >
interest payment data, in accordance with the call provisions""* >:
or tne respective bond series, and in amounts of not less r-han
$o,000 par value at one time; or
'i
_ (2) Any expenditures, including the payment of debt ser-vice
m_ improving or restoring any existing housing and dining
. racilitias or providing any such additional facilities; or I
1 !
;j (3) Any lawful purpose. I
'! mu r,Secjtion 15' ISSUANCE OF ADDITIONAL PARITY REVENUE 3ONDS
! T^.3oard reserves and shall have the right to issue one or more !
additional series oz bonds, not withstanding the provisions o^
I tne bond resolution that authorized the outstanding Student !
:; tiousmg System 3onds, to finance the construction or acquisition '
■| or additional housing, dining and related auxiliarv facili^es !
jj or to reiund indebtedness previously incurred to finance the
:j construction or acquisiton of such additional facilities, -o be
ij secured by a parity lien on and rat ably payable from the revenues
j pledged to the Parity Bonds, provided in each instance that:
!|
.j (a) The Board is then in full compliance with all covenants!
;! and undertakings in connection with all of its Parity Bonds then j
'I outstanding and payable from the revenues of the Student Housing ■'
1 System or any part thraof; 1
(b) The revenues of the facility or facilities to be built !
or rinanced from the proceeds of the Additional Bonds, and other i
revenues added as security, if any, for the Additional 3onds, j
are pledged as additional security for the Additional Bonds and !
tne Parity 3onds. Notwithstanding the foregoing, the 3oard may
issue Additional Bonds to finance the construction of additions
to facilities of the University which were constructed or under j
construction at the time the Series 1979~3cnds are issued, I
provided that the revenues derived from such addition or addi- i
tions are pledged directly or indirectly (first lien or sub- !
ordinate lien) as additional security for all bonds outstanding ■
against the Student Housing System and provisions are made for :
the. ultimate inclusion of the facilities into the Student Housing1
System as soon as the related prior liens have been eliminated. ;
(c) The annual Met Revenues, defined as gross revenues >ss;
Current Expenses of the Established System, plus Other Pledged !
Revenues, if any, for the fiscal year next preceding the issuance!
o£ the Additional 3onds are certified by an independent (certi-fied^
or licensed) public accountant, employed bv the 3oard or by
the State 'Auditor of Texas, to have been equal to at least one !
and twenty-five hundredths (1.25) tines the combined average |
annual requirements for principal and interest on ail bonds |
outstanding against the Student Housing System which were issued •
to construct or acquire the Established System; and >
_ _ (d) The estimated pledged revenues of the facility or !
racilities to be constructed or financed with the proceeds of |
such Additional 3onds, when added to the estimated" annual Met !
Revenues of the Student Housing System, including facilities ■
under construction, plus Other Pledged Revenues/if any/sha1! I
10
44-2 7
28
equal at least one and twenty-five hundredths (1.25) "'mes "-e
combined average annual debt service requirements -"orT-ncipal
and interest on the Parity 3onds and on "the Additional*Sends
authorized or then to be issued.. Computation of the future
Net Revenues of the then existing Student Housing System, to-gether
with the facilities to be financed with the proceeds of
the Additional 3onds and other pledged revenues, shall be based
on actual net income for the fiscal year next preceding th*
issuance-, of the Additional 3onds, as may be adjusted, to reflect
the_schedule of rates and charges to become effective when"the
additional facilities become revenue-producing but excluding
revenues derived from over-occupancy In relation to designed
capacity, and after giving recognition to anticipated chances
in Current Expenses of the Student Housing System. Computation
of the estimated Net Revenues of the-facility of facilities under
construction or to be constructed or acquired shall be predicat
ed upon.an assumed utilization rate of not more than 90%. The
computation of estimates shall be made by the Chief Financial"
Officer of the University and shall be approved by the President
of the University and by the Board of Regents. j
The term "average annual debt service" as of any date shall mean, i
zor each series of 3onds, the aggregate of all future principal '•
and interest.to become due on the bonds of such series in ail i
years in which principal is to mature in accordance with the '
scheduled maturities thereof, divided by the number of such yearsj
The term "combined average annual debt service" shall mean the !
aggregate of the average annual debt service for each separate '
series.
Section 16. USE OF MONEY IN L965 SYSTEM 3OND AND INTEREST
AND SINKING FUND ACCOUNT; OTHER'COVENANTS WITH RESPECT TO
ISSUANCE OF ADDITIONAL BONDS. The money in the 1965 System 3ond
and Interest and Sinking Fund Account shall be used solev for
the payment of principal of and interest on the Parity Bonds"
and on all subsequently issued Additional Bonds secured equally
with the Parity Bonds, as to which there would be a default if
the money were not so used.
The Board covenants and agrees that in the event Additional Bonds
are issued on a parity with the 3onds, as provided in -this Reso- i
lution, the 3ond Resolution authorizing such Additional Bonds !
shall provide: i
(a) For an identical Flow of Funds as prescribed in the
Resolution authorizing the issuance of the Parity 3onds~and* tha- .
all revenues deposited in the special funds and accounts already ;
established be commingled. j
i
(b) For payments of principal of such Additional 3onds on :
October 1st of the appropriate year Or years and for' pavrr.ent of :
interest on such bonds on April 1st and October 1st of each year; ;
(c) For an increase in the debt service reserve of not less :
than the average annual debt service requirements of such Addi- '
tional 3onds, either by depositing into * the 1965 System Bond and j
Interest and Sinking Fund Account in cash .at the time of the de-livery
or" such Additional 3onds, as an additional reserve, such I
sums equal to not less than the average annual debt~service re- :
quirements of the Additional 3onds/ or to be accumulated in not :
less than that amount in four equal annual payments, beginning '
at the end-of the first school year in which the■University has !
had use of the additional facilities. It is agreed and understood
that the maximum required debt service reserve for ail 3onds out- ;
standing against the Student Housing System shall be an anount i
equal to the sum total of the average annual debt service of each'
individual issue of outstanding bonds. :
11
44-28
29
(d) That as soon as the required additional reserve is :
accumulated, the amount required to be decosited annualiv into
tne 1955 System Repair and Replacement Reserve shall be increased
by 10% of the estimated cost of the rrcvabie equipment and fur
nishing installed m the additional facilities so constructed or
acquired with the proceeds from.-he Additional 3onds, and that
the accumulated total shall be increased by lOO'h of said esti
mated cost and in addition provide for a reasonable reserve for
extraordinary maintenance or repairs.
The 3oard covenants and.agrees to increase the annual deposits
into the 1365 Repair and Replacement Reserve Account, above and ;
beyond those which are required by the Resolutions authorizing j
the Parity 3onds,.when facilities are added to the Student I
Housing System independent of, or not connected with, the issu- '
ance of Additional 3onds, Notwithstanding the foregoing, it is!
agreed and understood that the required sum total of all deposits
into the 1965 System 3ond and Interest and Sinking Fund Account!
and the 1965 Repair and Replacement Reserve Account shall not !
exceed an amount equal to 1.25 times the sum total of the average
annual debt service (as defined in Section 16 of all outstandinc
Student Housing System Bonds. ~\
The 3oard covenants and agrees that so long as any of the Bonds'
are outstanding and unpaid, either as to principal or interest, .
Lt, wiil not i3SU8' except as provided in this Resolution, anv i
additional obligations payable from the revenues of the Student'
Housing System and/or Encumbered Facilities unless the lien of •
such obligations payable from such revenues is made junior and i
subordinate in all respects to the lien of the 3onds. j
i
Section 17. PRIOR REDEMPTION OF 3ONDS. The 3oard further'
covenants and agrees that if in any subsequently issued series !
of 3onds secured by a parity lien on the revenues of the Student
Housing System, it is provided that excess revenues in the 1965!
System Revenue Fund Account shall be used to redeem bonds in :
advance of scheduled maturity, or if the Soard at its option
undertakes to redeem outstandinc 3onds in advance of scheduled !
maturity, that (a) calls of 3onds will be applied to each series
of outstanding 3onds on an approximate equal" pro rata basis re-:
fleeting the proportion of the original amount of each series o-
3onds outstanding at the time of such call, and (b) caUs of
p s, any or all outstanding 3onds
wmch may be caiied at par plus accrued interest orior to caii-ng
3onds that are callable at a premium.
Section 13. CONDITIONS 0"MDSR WHICH STUDENT HOUSING SYSTEM
FACILITIES MAY 3E SOLD OR OTHERWISE DISPOSED OF 3Y THE 3OARD.
The Bd d
pse of any of the Sudn
Housing System facilities, or any part thereof, and, except as I
proviaed for in this Resolution, it will not create or permit to
be created any charge or lien on the revenues ther^o- rank;nc
equal or prior to the charge of lien of the 3onds. Motwithstand-mg
tne zoregoing, the 3oard may at any time permanently abandon
the use of, or sell at fair market value, any" of its Student
mousing System facilities, provided that: j
(a) It is m full compliance with all covenants and 'under
takings in connection with all of its bonds outstanding * and
payable from the revenues of the Student Housing System or anv •■
part thereof; ' \
12
44-29
30
(b) It will, in the event of sale, apply the proceeds to j
either (1) redemption of outstanding Bonds" in accordance with '.
the provisions governing prepayment of 3oncs in advance of
maturity, or (2) replacement of the facility so disposed of bv
anotner raciiity which shall oe incorporated into the Student'
mousing System. . . i
_(c) It certifies, prior to any abandonment of use, chac i
the facility to be abandoned is no longer economically feasible j
of producing Met Revenues; and
(d) It certifies that the estimated Net Revenues of the
remaining Student Housing System for the then succeeding fiscal
year (and any other revenues pledged as security) plus the es
timated Net Revenues of the facility, if any, to be added to the
Student Housing System satisfy the earnings test hereinbefore
provided in this Resolution governing the issuance of Additional
Bonds,
Section 19. CONDITIONS UNDER WHICH CERTAIN OF THE ENCUMBER-!
■I ED FACILITIES MAY BE DISPOSED OF BY THE BOARD. It is hereby !
■; agreed and understood, and it is so provided in the Resolutions !
■| of the 3oard authorizing the issuance of the bonds now outstand- !
j ing against the Student Housing System, tha~ the 3oard reserves '
■j and shall have the right to dismantle Dormitory No. 4 , and Dorm
itory No. 6, which right has already been exercised, and Apart
ments Nos. 127 through 156, to provide a site or sites for any
other University purposes, providing that such dismantling does
not violate any prevailing covenants of the Board and that the
remaining pledged revenues will be sufficient to allow the Board
to meet all of the obligations pertaining to the Student Housing
System Bonds as set forth in this Resolution.
Section .20. SECURITY FOR FUNDS; INVESTMENT OF FUNDS. The
money in all Funds and .Accounts established and to be maintained |
for the benefit of the Student Housing System Bonds shall be i
secured by the pledge of direct obligations of, or obligations j
unconditionally guaranteed by, the United States Government, in |
a principal amount at all times not less than the amount of money!
credited to such Funds and Accounts, respectively. j
The 1965 System 3ond and Interest and Sinking Fund Account and J
the 196 5 System Repair and Replacement Reserve Account shall be !
kept on deposit in the Commercial National Bank in Nacogdoches, |
Nacogdoches, Texas. Funds on deposit to the credit of the 1965 j
System Bond'and Interest Sinking Fund Account consti-uting the ;
reserve for debt service, and funds oh deposit to the credit of '
tlie 1965 System Repair and Replacement Reserve Account, may, at !
the option of the 3oard, be invested in direct obligations of, i
or obligations the principal of and the interest on which are j
guaranteed by the United States Government. The investments of i
such funds shall be valued in terms of current market value as
of June 30 and December 31 of each year. Such obligations shall
be held subject to the same lien as the moneys with which they
were purchased, and shall be sold when so ordered by the 3oard,
and the 3oard shall in all events order such sale when necessary
to prevent any default in connection with 'the Student Housing "* "
System 3onds. All moneys collected on such sales or at maturity
shall be deposited in the Fund or Account with which such obli-
| gations wera purchased. If a loss be incurred on any sale, tha
:j Board covenants to deposit immediately ir.no the appropriate Fund
•! or Account moneys available therefor sufficient to*o-fse<- such
! loss.
13
44-30
31
Sec-ion 21. PAYMENT OF 3OMDS . On or before March 15 and
Seotemoer 15 of each year while any o: the 3onds are outstand
ing and^unpaid, it shall be the duty of the 3usiness Manacer
o. tne University.to maxe available at: the Places of Payment,
out solely from tne 1965 System 3ond and Interest S'nk'rg =--Ii^
Ac county money sufficient to pay • the interest on and principal*
or the. 3onas, 1: any, as will accrue, or mature on April 1 or
Octooer 1 thereafter.
Section 22. . SPECIAL COVENANTS, The Board, further covenants
ana agrees:
,1
3 (a) That it will faithfully perform at all tires anv and
all covenants, undertakings, stipulations and provisions confin
ed in this Resolution and in each and every Bond issued and de
livered hereunder; that it will promptly pay or cause to be paid
i.rom .he Met Revenues herein pledged the principal of and in*-*r-est
on every Bond issued hereunder on the"dates and at the places!
and in tne manner prescribed in such 3onds and in this Resolution-and
that it will prior to ..the maturity of each installment of j
interest and prior to the maturity of each such Bond at the times!
and m the manner prescribed herein, deposit or cause to ce de- !
posited, rrom the Met Revenues herein pledged, the amount of i
money specified herein.
- <b) That it is duly authorized under the laws of the State
or Texas to create and issue the 3onds; that all action on its
part .or tne creation and issuance of the 3onds has been dulv
ana errectiveiy taken; and that the Bonds in the hands of the
nolders and owners thereof are and will be valid and enforceable
special obligations in accordance with their terms.
(c) That the university owns and is lawfully oossessed of
the land upon which the Project is to be constructed and has a
good and mdereasible estate in such lands in fee simple; that
tne Project will be constructed and completed in accordance with
^he plans heretofore approved and adopted; that it warrants that
it will derend the title to the Student Housing System, and *he I
ancumoered Facilities, and the lands pertaining thereto, and" !
every_part thereof, and the improvements thereon, for the bene- i
nt or the holders and owners of the 3onds against the claims I
ana demands or all persons whomsoever; that it is ^awf-lW i
qualified to pledge the Met Revenues of the Student~Hous<ng !
oystem and the Encumbered Facilities to the payment of the 3onds i
m tne manner prescribed and has lawfully exercised such right. j
(d) It will from time to time and before the same become l
celinquent cause no be paid and discharged all taxes, assessments!
and governmental charges, if any, whicn shall be lawfully imposed'
upon it, the University, the Student: Housing Svstem, or the En- I
cumpered Facilities; that it will cause to be paid ail lawful ;
claims ,or rents, royalties, labor, materials and supplies, which'
1- unpaid might by law become a lien or charge upon the Student j
nousmg System or the Encumbered Facilities, or anv part thereo ? |
the lien of which would be. prior to or interfere with the 1 lens I
hereoc, so that the priority of liens created hereunder shall be !
rully preserved; and that it will not create or suffer to be
created any mechanic's, laborer's, materialman's or other li-n
or charge whatsoever upon the Student Housing System or the I
ancumberea Facilities, or any part thereof, or upon the income I
anci? rones or said Student Housing System and Encumbered i
Facilities which might or could be prior to the liens hereof, or \
go or surrer any matter or thing whereby the liens hereof might i
or could be impaired; provided, however*, that no such tax, assess
ment or charge, and that no such claim which might be used as -he!
basis or a mechanic's, laborer's macenaiman' 3 or other lien or '
charge, shall be required to be paid so long as the validity of j
the same shall be contested by the 3oard in good faith. * " ;
!
14
44-31
32
theraor or couid be inpairad,-and that *^
aSSLTSySi.itSS -S JULEPS ! f.7-
sassy ?-el -
■ Section 23. PARIETAL RULES AND RATES AND STUDENT ACTIVITY
3UILDING USE FEES, (a) The 3oarci further covenants and agrees
that it will establish, adopt and maintain so long as any of
the Bonds, or any interest thereon, remain outstanding against
tne Student Housing System, such parietal rules, rental rates
ana charges, for tne use of the Student Housing System facili
ties and tne Encumbered Facilities as may be necessary to assure
maximum occupancy and use thereof, pay the reasonable operation
and maintenance costs thereof, and provide the debt service on
the Parity Bonds, the required reserve therefor, and the
requisite 1965 Repair and "Replacement Reserve Account.
Thdt ^e fQiiowin9 rentals, rates and charges fo- the
sary to satisfy
ENCUMBERED FACILITIES:
Apartments
1-70 Starr Avenue
73-96 East College St.
127-166 Raquet St.
200-299 Raquet St.
F1-F16 Clark Blvd.
Subtotal
STUDENT HOUSING SYSTEM
Garner Apartments (formerly
Dormitory Mo. 19 which
was converted)
Grand Total
ENCUMBERED FACILITIES:
Dormitories
No. Name
1 Unit I
2 Unit II
3 Unit III
5 Wisely Hall
•7 Todd Hall
3 Gibbs Hall
9 North Dormitory
10 Dormitory 10
11 Mays Hall
12 South Dormitory
13 Do rrru. to ry 13
14 Dormitory 14
15 Griffith" Hall
16 Dormitory 16
Subtotal
of this Resolution, as follows
Capacity
70 units
24 units
40 units
100 units
16 uni ts
250 units
13 3 units
333 units
Monthly
Rental Rates
$100.00
115 .00
-115.00
130.00
175.00
160.00
Room Rates per
Regular Semeste:
215.00
215.00
215.00
215.00
230 .00
215 .00
230 .00
230 .00
215 .00
230 .00
230 .00
230 .00
230 .00
230.00
44-32 I5-
33
STUDENT HOUSING SYSTEM :
Room Rates per ;
N£. M arr.e Capacity Regular Seines car ;
17 3 teen Mali 764 230.00 ;
13 Dorm to ry 13 5 32 230.00
Subtotal 1 , 296
Grand Total' 4,107
|
DINING FACILITIES: • • ■ i
. • . ...... .... • .. . .- .. . 3,. Day. ..Plan, . 7. Day Plan 7 Day P.Ian !
Capacity (15 Meals') ' (13 Meals) (20 Meals) !
ENCUMBERED FACILI
TIES
! Central Dining
| Hai^ 2,400 $365.00 $375.00 $385.00
I
STUDENT HOUSING
SYSTEM
East College
Cafeteria 2,400 365.00 375.00 385.00
Grand Total 4,300
STUDENT HOUSING SYSTEM
PROJECT STUDENT APARTMENTS (Subject to change after completion
of construction)"
12-1 bedroom units $2 30 per month
20-2 bedroom units $320 per month
(c) The 3oard further covenants and agrees to relev/, re-fix,
and reestablisn the Student Activity Building Use Fee in-accordance
with the requirement of the bond resolutions which
authorized the Encumbered Facilities Bonds and the Student Hous
ing System Bonds in the amount of $4.00 per semester of the
regular session and $2.00 per tern of the summer session for
each student attending the University.
Section 24. INSURANCE. Upon acceptance of the Project j
from the Contractor, the 3oard shall, if such insurance is not I
already in force, procure Fire and Extended Coverage Insurance \
•! on ^//Ojsct, and upon receipt of the 3ond proceeds, the 3oard I
; will, if such insurance is not already in force, procure Firs !
* and Extended Coverage Insurance on all of its other facilities ;
■ the. revenues of which are. pledged to the ?ayT.en: of the Bonds. I
I Such insurance shall be maintained so long as any 3onds are out- !
I standing, and shall be in amounts sufficient to provide for not '
I less than full recovery whenever a loss from perils insured j
;j against does not exceed 30% of the full insurable value of the j
■j damaged building. Such insurance shall be carried with a raliable
!' ^surance company or companies and the premiums on such insurance j
|! shall be paid as an expense of operation of the respective build-
•| ings. Upon the happening of any loss or damage covered by such j
j policies from one or more causes to which reference is made in j
this Section, the Board shall make proof of loss and shall do i
j ail things necessary.. or desirable .to cause the insurance company :
:j to make payment in full directly to the Board. Upon the happen- \
•| ing of any loss or damage to the insured property", the- Board* of !
ij Regents shall forthwith repair or rap lace the damaged or destrov- i
j ed property and shall apply the insurance proceeds solely for " i
that purpose. If the funds- received from said insurance policies \
:; on account of any loss shall be insufficient to make the build- :
] ing or buildings, or things insured, suffering such loss tenant- !
•j able or useful, then the 3oard shall hold said funds for the ;
; benefit of the holders of the 3onds and coupons outstanding i
;. against the Student Housing System and the Zncumberac Facilities '
".. as their respective interest may appear- . ." ' j
. L6
44-33
34
; Upon acceptance of the Project from the Contractor., the Board
;, of Regents shall, if such insurance is not alreadv in force,
procure and maintain so long as any 3onds are outstanding against
the Student Housing System and tne Encumbered Facilities insur
ance covering any collars servicing tne Student Housing System
ana Encumbered Facilities, m a ."mnimum amount of S50,000"
; The 3oard shall, immediately upon occupancy of the Project,
: and so long thereafter as the funds and investments <n the
: respective interest and sinking funds of -he 3onds outstanding
: against, tne Student Housing System and the Encumbered Facilities,
•! or any part thereof, are less than the maximum debt service j
reserve required by the Resolutions authorizing such 3onds,
procure and maintain use and occupancy insurance on each build
ing comprising the Student ..ousing System and the Encumbered
Facilities, in an amount sufficient to enable the 3oard to de
posit m suc,h interest and sinking funds, out of the proceeds
of such insurance, an amount equal to the sum that would normal
ly have been available for deposit in such interest and sinking
zunds rrom the revenues of the damaged building during the time
the damaged building is non-revenue producing as a result of
loss of use caused by the perils covered bv Fire an d~Ex tended
Coverage Insurance.
The Board shall, insofar as it may lawfully do so, maintain so
-ong as any or the Bonds are outstanding, Public Liability IN-surance
with limits of not less than $100,000 for one person
and $300,000 for more than one person involved in one accident
to protect the Board and the University from claims for bodily
injury and/or death which may arise from the University's op
erations, including any use or occupancy of its grounds, struc
tures and vehicles, and including any non-owned vehicles operat
ed ror the benefit of the University. The 3oard shall, insofar
as it may lawfully do so, maintain so long as any of the 3onds
are outstanding, Vehicle Property Damage Insurance with limits
of not less than $10,000.
i Section 25. RECORDS AND AUDIT REPORTS. The 3oard further
covenants and agrees that accurate financial records and orooer '
cooks will be kept in which full, true -and correct entries will I
oe made of all dealings and transactions relating to the Student !
Housing System and the Encumbered Facilities, and that all books,!
aocuments, records and vouchers relating to the properties, '
business and affairs of the Student Housing System and the'^n- j
cambered Facilities, shall, at all reasonaole times, be made '
available for the inspection of the 3ondholders and their agents '
or representatives. * |
i
The Board further covenants and agrees that it will furnish to
the original purchaser, and to any holder of the 3onds who !
.shall request.same.,.. not;, later than 90 .days after the close !
or each fiscal year, copies of audit reports certified bv audi- i
tors employed by the State of Texas for" the auditing of the i
accounts of State institutions or by anv independent accounant :
employed by the 3oard, reflecting in reasonable detail the
financial condition and record of operation of the University,
the Student Housing System and the Encumbered Facilities, in
cluding particularly the University's enrollment, the'occupancy
or aegree of use and rates charged for the use of, and the in
surance on, the Student Housing System and the Encumbered Facil
ities, and the status of the several accounts and funds reauired
oy tne Resolutions authorizing the Student Housing Svstem Bonds
I, Nothing m tnis agreement shall be construed as requiring th«
I 3oard to expend any funds for such audits which may be derived
:i from any source other than the revenues of the Student Housing
| System and the Encumbered Facilities but nothing herein shall'
j be construed as preventing the 3oard from doing so.
17
44-34
Section 26. CONSTRUCTION ACCOUNT. The Board ?"^W j
creates and orders to be established with a bank or "bank's whicn
are memoers oc the Federal Deposit: Insurance Corporation, o-with
its depository bank, a separate account or accounts (herein
collectively' called the "Construction Account11) , into which shall
be deposited the proceeds from the sale of the 3cnds (except for -
accrued interest, and premium, if any, received from the sale of .
tne 3onds) . Money in the. Construction Account shall be expended '
only nor the payment of the proper and necessary Project costs. ;
Where the moneys on deposit in the Construction Account exceed j
the estimated disbursements on account of the Project for the next*
90 days, the Board may deposit such excess funds in time deposits;
m banks that are members of the Federal Deposit Insurance Cor- '
poration, or may invest such excess funds in direct obligations
or, or obligations the principal of and interest on which a*-«
guaranteed by, the united States Government, which shall mature
not later than 18 months after the date of such investment, and
which shall be subject to redemption at any time by the holder
thereof. The earnings from such deposits or investments shall
oe deposited m the Construction Account by the 3oa*-d All
moneys in the Construction Account shall be secured in -he saine
manner and to the same extent as moneys in the 196 5 Svstem 3ond
and interest Sinking Fund Account. Any moneys remaining in zhe
Construction Account after all costs of the Project have be^n
paid shall be deposited in the 196 5 System 3ond and Interest
Sinking Fund Account.
Section 27. NON-SOCIAL CLUB. The 3oard hereby certifies,
recites and agrees that the Project is being constructed for
general Student Housing purposes and is not being constructed for
exclusive use by fraternities or sororites or private social clubs
Section 23. CHARGES OF PLACES OF PAYMENT. The 3oard fur
ther covenants and agrees that all charges made by the Places !
oc Payment for the payment of principal of and inte-^st on th« I
Bonds will be paid by the Board as a maintenance and operation i
expense and will not be required to be paid by the holders of i
tne Bonds and/or coupons.
Section 29. SEPARABILITY OF RESOLUTIONS PROVISIONS. rn \
case any one or more of the provisions of this Resolution or |
the Bonds, or obligations, or the coupons appertaining thereto,
issued hereunder, shall for any reason be held to be illegal or
invalid, such illegality or invalidity shall not affect any !
other provision of this Resolution, or said Bonds, obligations !
or coupons, but tnis Resolution and said Bonds, obligations and !
coupons, shall be construed and enforced as if such illegal or i
invalid provisions had not been contained therein. ~- \
I ^ Section 30. APPROVAL AND REGISTRATION OF BONDS. Tha* i'
,| eitner the Chairman or the Vice Chairman of i^he Beard of Regents !
i is .nereby authorized to have control of said 3onds and all
necessary records and proceedings pertaining to said Bonds j
pending their delivery.and their investigation, examination,
and approval by the Attorney General of the State of Texas,
and their registration by the Comptroller of Public Accounts !
or the State of Texas. rJpon registration of said Bonds, said j
comptroller of. Public Accounts (or a deputy designated in wr t- '
ing to act :or said Comptroller) shall manually sign .the Como- '
troller s Registration Certificate printed and endorsed on " !
each or said Bonds, and the seal of said Comptroller shall i
oe placed in facsimile, on each of said Bonds. !
13
44-35
36
Section 31. ARBITRAGE. That the Board covenants ^ and :
with the purchasers of -he bonds that it will .-naxs no use of
the proceeds of the 3onds at any time throughout the tern of
tms issue of Sends which, if such use had been reasonably
expected on the date of delivery of the 2onds to and paynen-ror.
cne 3onds ~Y — e purchasers, would have caused the Bonds
to oe arbitrge oonds within tihe meaning of Section 103 (c) or
tne internal Revenue Code of 1954, as amended, or any regulations;
or rulings pertaining thereto; and by this covenant the 3oa-*d
is obligated to comply, with the requirements of th<* a~"cr«said i
section 103(c) and all applicable and pertinent Department of i
-ne Treasury regulations relating to arbitrage bonds. The '
3oard further covenants that the proceeds of the Bonds will
not otherwise be used directly or indirectly so as to cause
all or any part of the 3onds to be or become arbitrage bonds
within the meaning of the aforesaid Section 103(0), or any i
regulations or rulings pertaining thereto. I
Section 32. SALE OF 30NDS. That the 3onds are her-bv sold-and
snail be delivered to ■ First National Bank in Dallas * !
ior cash :or tne par vai.ue thereof and accrued interest thereon, !
tojaate or delivery, plus a premium of $L2iL_52_- " is herebv \
ozxicially, round, determined and declared that said purchaser
is tne hignest and best bidder, for said Bonds and that sai'-1 j
bonas have been sold at public sale to the bidder off*r^ rg"Vie
n?"?*? ?ev fntars?t c°st after receiving bids pursuant to an |
Ot.icial Notice oc Sale and Official Statement, dated March 1, I
-y/9, prepared and distributed in connection with the sa^ of !
the 3onds. Said Official Notice of Sale and Official Statement
nave been and are hereby approved by the 3oard of Regents.
It is rurther officially found, determined and declared tha*-%
the statements and representations contained in said Official
Notice or Sale and Official Statement are true and cornet in
all material respects, to the best knowledge and belief of the
3oard of Regents.
Section 33. IT IS HEREBY CERTIFIED AND RECITED by the
°^l,that <a) it,is ™w in full compliance with all covenants
and undertakings in connection with all of its 3onds oayabl*
rrom the revenues of the Student Housing System or anv oart"
thereor; (b) in issuing the 3onds, the Board has complied with
all requireements pertaining thereto as set forth in the Reso-
^°nS *u*"?f12in* the issuance of the Stephen F. Austin State
Revenue Sends of 1965, Series "A" and
•i iq^ at3Pn®n ?- Austii n SS tate College 3uilding Revenue 3onds of
I o-3nb/3, 6arn:d as"teapn^e.n LF.^ ^AuSstti?nt S2t_atCe 3Clolll^ecae 33ui-ldi^nc aRevveennuuee 3qnonn ds - — «>•■«- v^wj.j.w^s_ uu4.xuj.;i^ -rvs/ssiiutr -
(c) the computation of estimates made by the Chi*f ■ ,
nnancial Officer of Stephen F. Austin State University and ao- !
proved by the President of the University shows that zh* -stiinat-1
ed pledged revenues of the Project, when added to the estimat-d i
annual Net Revenues of the Student Housing Svstam, including '
racilities under construction, plus Other Pledged■Revenues wii1 I
equal at least one and twenty-five hundredths (1.25) tines -he !
coirx)ined average annual debt service requirements for orincioal !
and interest on the Stephen F. Austin State College Building
Revenue Bonds of 1965, Series "A",and Series •'B'/ ^da ted October I
:U- ; Stepnen F. Austin State College Student Housing j
oysv.em Revenue 3onds of 1967, dated April 1, 1967, the Stephen I
iQGAUS^r? ^Tt9 C?i:Lf2? Student Housing System Revenue Bonds of j
-.b>6d, dated June 1, 1968, and the 3onds herein authorized, and
such estimate is hereby approved by the 3oard
19
44-36
37
79-73
Upon motion of Regent Todd, seconded by Regent Samuel, with all members
voting aye, it was ordered that the University be authorized to sell the
$5,500,000 Stephen F. Austin State University Combined Fee Revenue Bonds,
Series 1979 to the lowest qualified bidder, Cullen Center Bank g Trust,
Houston, Texas, and Associates, and that the Chairman of the Board be
authorized to sign the documents related to the bond issue, as prepared by
Messrs. McCall, Parkhurst, and Horton with the assistance of Russ
Securities Corporation.
44-37
38
CERTIFICATE FOR
RESOLUTION AUTHORIZING THE ISSUANCE OF BOARD OF REGENTS OF
STEPHEN F. AUSTIN 5TATE UNIVERSITY COMBINED FEE REVENUE 3ONQS,
SERIES 1979, 35,500,000
THE STATS OF TEXAS
COUNTY OF NACOGDOCHES !
STEPHEN F. AUSTIN STATE UNIVERSITY ':
We, the undersigned officers of the 3oard of Regents of
said University, hereby certify as follows:
i . Tne Board or Regents of said University convened in
MEETING ON THE 19TK DAY OF APRIL, 1979, at the regular
designated meeding place, and the roll was called of the duly
constituted officers and members of said 3oard, to-wit:
Homer Bryce, Chairman James I. Perkins
Ernest Powers, Vice Chairman R. E. Samuel, Jr.
Mrs. George Cullum, Jr. Walter C. Todd
Joe Bob Golden Mrs. Tom Wright
Glenn Justice
Charles G. Haas, Secretary
and all of said persons were present, except the following
absentees : C u j\ p^ "
thus constituting a quorum?' Whereupon, among other business,
tne following was transacted at said Meeting: a written
RESOLUTION AUTHORIZING ISSUANCE OF COMBINED FES.REVENUE 3ONDS
was duly introduced for the consideration of said 3oard and -«ad
in full. It was then duly moved and seconded that said Resolu
tion be adopted; and, after due discussion, said motion, carrying
^ r1^ adoption of said Resolution, prevailed and car-ied by
tne following vote:
AYES: All members of said Board shown present :
above voted "Aye".
NOES: None.
2. That a true, full, and correct copy of the aforesaid
Resolution adopted at the Meeting described in the above and
roregoing paragraph is attached to .and follows th«s Certificate-tnat
said Resolution has been duly recorded in said Board's
minutes of said Meeting; that the above and foregoing parag-aph
is a true, lull, and correct excerpt from said 3oard•s"minutes
of said Meeting pertaining to the adoption of said Resolution;
tnat the persons named in the above and foregoing paragraph a>-*
zhe duly chosen, qualified, and acting officers and -embeds of"
said 3oard as indicated therein; thac each'of the officers ard
memoers of said 3oard was duly and sufficiently notified offi
cially and personally, in advance, of the time" place,""and
purpose of.the aforesaid Meeting, and that said Resolution would
be introduced and considered for adoption at said Meeting, and
each or said officers and members consented, in advance, "o the
holding of said Meeting for such purpose; and that said Meeting
was open to the public, and public notice of the time, place,
and purpose of said meeting was given, all as reauired by
Vemon's Ann. Civ. St. Article 6252-17.
SIGNED AND SEALED the 19th day of April, 1979.
secretary, Board of Regents Chairman, 3oard of Regents
SEAL
44-38
39
RESOLUTION
AUTHORIZING THE ISSUANCE OF 3OARD OF REC-N^S O7
STEPHEN F, AUSTIN ST.^TE r^ITTrER^-*v CQ vgr^ ^ 7-,1
REVENUE 3OMDS. 5ZRIZ3 -.979. 33^300,000 ~* " ' ""
^ WHEREAS, the 3oard of Regents of Stephen F, Austin Stat*
university is authorized to issue bonds in accordance with
chapter 55 or the Texas education Code; and
'.-'"HEREAS, it is heraby officially found and determined-a
case of emergency or urgent public necessity exists'
wnicn requires the holding of the meeting at which' this
Resolution is adopcaa,■such emergency or urgent public nec«s- '
sity oemg that che proceeds from the sale of the proposed !
bonds are required as soon as possible and without*delay i
for necessary and urgently needed public improvements; and I
that^ said meeting was open to the public, and public notice j
or tne time, place, and purpose of said meeting was cn'ven
all as required by Vemon's Ann. Civ, St. Article 6252-17'. '.
i
THEREFORE, 3E IT RESOLVED 3Y THE BOARD OF REGENTS OF '
| 3TEPHEIT F. AUSTIN STATE UNIVERSITY:
i
: Section L. That said Soard's negotiable, serial coupon •
•I oonds, to be designated as 30ARD OF REGENTS OF STEPHEN F AUSTIN ■
:| STATE UNIVERSITY COMBINED FEE REVENUE BONDS, SERIES 1979 herein-1
] a.ter sometimes called "Series 1979 Bonds" or "3onds" ar« ■ ' ;
j ciereby authorized to be issued and delivered in the orincioal I
j amount or $5,500,000, for the purpose of providing funds to pur- \
,| chase land, improve existing facilities, and construct and I
!; equip buildings, structures, and facilities, for and on behalf !
: of the University on its cacpus at Nacogdoches, Texas to-*nf !
addiuions, improvements and renovations to University'Center.' ;
!
Section 2. That the 3onds shall be datedFebruary L, 1979, |
:; shall be numbered consecutively from 1 through 1100, shall be in' j
; the denomination of $5,000 each, and shall become due ard oay- I
j able serially on August 1 in each of the years, and in the' !
j amounts, respectively,.as set forth in the following schedule- !
YEARS
1930
1981
1932
1983
1934
1935
1986
1987
1988
19 89
1990
1991
AMOUNTS
S 90,000
105,000
110,000
115,000
120,000
130,000
140,000
150,000
15 5,000
170,000
175,000
190,000
YEARS AMOUNTS
$200,000
210,000
225,000
235,000
250,000
265,000
235,000
355,000
380,000
405,000
520,000
520,000
Section 3. That the Bonds scheduled to matur* durin^ th«
years respectively, set forth below shall bear interest at
trie following rates per annum:
maturities 1980 through 1989, 7.00"
maturity 1990 6 n5T'
maturities 1991 through 199^, 5.50?
maturities 1995 through 1997 \ 5.707,
maturities 1998 through 2000, 6.007,
maturities 2001 through 2003, 6.25%
44-39
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Said interest shall be evidenced by interest coupons which shall1
appertain to said bonds, and which shall be payable in the * * ■
manner provided and on the dares sea cad in the FOR21 OF 3OND
sec forth in this Resolution,
Section 4, That said 3onds and interest coupons shall
be issued, shall be payable, may be redeemed prior to their
scheduled maturities, shall have the characteristics, and
snail be signed and executed (and said bonds shall be sealed),
all as provided, and in the manner indicated, in the FORM
OF BOND sec forth in this RESOLUTION, ■ * I
Section 5. That the form of. said 3onds, including the i
fora of Registration Certificate of the Comptroller of Public :
Accounts of the State of Texas to be imprinted and endorsed j
on each of said bonds, and the.form of the aforesaid interest !
coupons which shall appertain and be attached initially to !
each of said bonds, shall be, respectively, substantially '
as follows: * ' !
j
| FORM OF BOND i
1 N0' 35,000. ■
i UNITED STATES OF AFRICA ;
I STATS OF TEXAS ■ i
! BOARD OF REGENTS OF ' j
STEPHEN F. AUSTIN STATE UNIVERSITY :
COMBINED FEE REVENUE 30MD
SERIES 19 79
ON AUGUST 1, 19_, THE BOARD OF REGENTS OF STEPHEN F
AUSTIN STATE UNIVERSITY, for and on behalf of Stephen F. Austin !
State University, promises to pay to bearer hereof the principal'
amount of k ' j
i
FIVE THOUSAND DOLLARS |
: and to pay interest thereon, from date hereof, at the rate '
°f ?o Per annum, evidenced by interest coupons payable •
August 1, 1979, and semi-annually thereafter vhile this bond )
is outstanding. |
THE PRINCIPAL of this bond and the interest coupons
, appertaining hereto shall be payable to bearer, in lawful coney ■
i or the United States of America, without exchange or collection
• charges to the bearer, upon presentation and surrender of this
j bond or proper interest coupon, at the following, which shall ;
I constitute and be defined as 'the."Paying Agent" for this Series ■
of Bonds : I
COMMERCIAL NATIONAL BANK, MACOGDOCHES, TEXAS
OR AT THE OPTION OF THE HOLDER, AT THE CHASE
MANHATTAN BAiftC, N. A., NEW YORK, NEW YORK i
THIS 3OND is one of a Series of negotiable, serial, coupon ;
bonds dated February 1, 19 79/ issued in the principal amount'of •
| 35,500,000, for the purpose of providing funds to purchase land, j
! improve existing facilities and construct and equip buildings, j
j structures and facilities, for and on behalf of'the University
j on its campus at Nacogdoches, Texas, to-wit: additions, improve-1
| aents and renovations to University Center. i
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, :.S:T.- -_ ,_-ad nacun^ias, ac t.ie opcion "
for redenpcion as follows:
i ,,h -t redesmed Augusc 1, 1933 through Febmarv 1 1990
1-1/2. «_ raaeemea Augusc L, 1990 through Fefarufr^ 1 {o"
1/27 of 17 H raQeemed August 1, 1991 through February i 199
7 /o °f Ji h ^eeme^ Au3usc L' "92 through Fabrutrv £' 1993
0/. i. redeemed Augusc 1, 199 3 and thereafter
w
F. Austin Scaci c"S4 sSui^'fui?^ ^"T C°ll-SM SCe?
1968, dated June 1 1963 "Ser'eJ 6 3^! "SVenUe 3°ndS of
iiiiftiiil
THE HOLDER HE3S0F shall never have r^ -<
44-41
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III WITNESS WHEREOF, this bond and the interest: coupons
appertaining hereto have been signed with -he facsimile signa
ture of the Chairman, of said Board and countersigned v;ith the
facsimile signature of ere Secretary- of said Board, and the
official seal of said Board has been duly impressed, or placed
in facsimile. on this bond,
xxxxx xxx:ct
Secretary, Board of Regents Chairman, Board of Regents
FORM OF REGISTRATION CERTIFICATE: \
COMPTROLLER'S REGISTRATION CERTIFICATE: REGISTER NO. !
I hereby certify that this bond has been examined, certified:
as to validity, and approved by the Attorney General of the
State of Texas, and that this bond has been registered by the
Comptroller of Public Accounts of the State of Texas,
Witness my signature and seal this
xxxxxx
Comptroller of Public Accounts
of the State of Texas
FORK OF INTEREST COUPON: ;
NO. • $ :
ON , :
THE BOARD' OF REGENTS OF STEPHEN F, AUSTIN STATE UNIVERSITY, for
and on behalf of Stephen F. Austin State University, promises
to pay to bearer the amount shown on this interest coupon, in
lawful money of the United States of America, without exchange
or collection charges to the bearer, unless due provision has
been made for the redemption prior to scheduled maturity of
the bond to which this interest coupon appertains, upon
presentation and surrender of this interest coupon, at the
COMMERCIAL NATIONAL BANK, MACOGDOCHES, TEXAS, OR AT THE OPTION
OF THE HOLDER, AT THE CHASE MANHATTAN BANK, N.A., NEW YORK, " .
NEW YORK, said amount being interest coming due that day on
the bond, bearing the number hereinafter designated, of that
issue of the 30ARD OF REGENTS OF STEPHEN F. AUSTIN STATE
UNIVERSITY COM3INED FEE REVENUE BONDS, SERIES 1979, dated
February 1, 1979. The holder hereof shall never have the right
to demand payment of this obligation out of any funds raised or
to be raised by taxation. Bond No. .
x:cccc xxxxx
Secretary, Board of Regents Chairman, Board of Regents
Section 6. That throughout this Resolution, the following
terms as used herein shall have the meanings set forth below,
unless the text hereof specifically indicates otherwise:
The term "Additional 3onds" shall mean the additional
parity revenue bonds permitted to be authorized in this
Resolution.
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The term "Board" shall mean the Board of Regents of
Stephen F, Austin State University.-
The term "Bonds" shall mean collectively the Board of
Regents of Stephen F. Austin Staca University General Fee
Revenue 3onds, Series 1972, authorized by Resolution of the
Board.on March 7, 1972, "Series 1972 3onds", the Board of
Regents of Stephen F. Austin State University General Fee
Revenue Bonds, Series 1973, authorized by Resolution of the
Board on March 27, 1973, "Series 1973 3onds", the Board of
Regents of Stephen F. Austin State University General Feee
Revenue Bonds, Series 1977, authorized by Resolution of the
Board- on November 4, 1977, and the 3oard'of Regents • of Stephen
F. Austin State University Combined Fee Revenue Bonds, Series
1979, authorized by this Resolution. ;
The term "Building Use Fee" shall mean the gross collections
of the building use fee to be fixed, charged and collected from
all tuition paying students regularly enrolled at the University,
out of and as a part of the regular student tuition fees of the
University, in the manner and to the extent provided in this
Resolution and the Resolution which authorized the outstanding
Series 1963 Bonds, and pledged to the payment of the Series
1968 Bonds and being only available for the payment of the
Bonds and Additional Bonds after the Series 1963 Bonds are no
longer outstanding or unpaid, as authorized by Chapter 55 of
the Texas Education Code. (This definition was restated due
to Chapter 55 of the Texas Education Code superseding Art.
2654c-l and Art. 2909c-3, V.A.T.C.S. * j
The term "General Fee" shall mean the gross collections of
the general fee fixed, charged, and collected from all students
(excepting any category of students now exempt from paying fees
by Chapter 54 of the Education Code) regularly enrolled in the
University, for the use and availability of the University, in' :
the manner and to the extent provided in this Resolution, and as '
authorized by Chapter 55 of the Texas Education Code.
The term "Outstanding", when used with reference to Bonds '
or Additional Bonds, and as of a particular date, or tine, shall;
mean all Bonds and Additional 3onds theretofore issued and not :
cancelled except Bonds or Additional 3onds for the payment or
redemption of which cash or federal securities (direct obliga
tions of the United States government) equivalent to cash, equal
to the principal, amount thereof or redemption price thereof, or
with interest to date of maturity or .redemption date, shall be
held by the Paying Agent therefor, provided that if such 3onds
or Additional Bonds are to be redeemed prior to date of maturity,
notice of redemption shall have been given as provided in the
resolution or resolutions authorizing such Bonds or Additional
Bonds.
The term "Pledged Revenues" shall mean collectively, the
General Fee and annual interest grants received from the United
States, Department of Health, Education and Welfare, in connec
tion with the 30nds', together with a lien on and pledge of
certain student tuition fees, designated as the "Building Use
Fee", which, lien and pledge is junior and subordinate to that
for the outstanding 3oard of Regents State Senior Collage
Student Tuition Fee Revenue Bonds of 1963, dated June 1, 1963,
"Series 1963 Bonds", or any bonds issued to refund such Series
1968 3onds, which lien and pledge of said Building Use Fee is
only available after the Series 1968 Bonds are no lloonnggee:r "out-igs
res
any monies credited to any
standing" or "unpaid", and other investment earnings resulting
from the deposit or investment of «
44-43
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r-d ?urSUanC C° :he ^solution that au-n
s , togeche-r wmh ar>v addi income, receipts, or other resources^ includi
! The tern "University" shall aiean cha Scaohen F Austin State
: University, formerly known as Stephen F. Austin State College
; Section 7. (a) That the Board, of Regents of Steohen F '
, Austin State University Combined Fee Revenue Bonds, Se-ies 1979 :
authorized by this Resolution are "Additional Bonds" as oerait-ued
oy Sections 22, 23 and 24 of the .Resolution that author-ad
the issuance of the Series 1972 Bonds, and it is herebv de-e-mined,
declared and resolved that all of the Bonds are'and shall
stall , T ?a7^le eqUaLl7 and raCab1'-' on a P«i«7, and tSat Sections 8 through 25 of this Resolution are suuolemental cunu-
\7»7^°\Se""?!,? Chr°Ugh 25 of Che ^solution that author- !
«ad che Series 1972 Bonds, with said sections being equally
applicable to all of the bonds, except as modified hereby. \
!
(b) That the Bonds and any Additional Bonds, and the '
interest thereon, are and shall be secured by and payable from ■
an irrevocable first lien on and pledge of the Pledged Revenues.
Section 8. That the Bonds and any Additional Bonds and '
interest coupons appertaining thereto shall constitute soecial ■'
ooligations of the Board, payable solely from the Pledged
Revenues,.and such obligations shall not constitute a orohibit-ed
indebtedness of the University, the Board, or the State 0*
Texas, and the holders of the Bonds and Additional Bonds and"
the coupons attached thereto shall never have the r^h^ -0
demand payment out of funds raised or to be raised by taxation.
Section.9. (a) That the 3oard covenants and agrees to fix
levy, charge, and collect the General Fee from all students
^excepting any category of students now exempt from paying fees
6y Chapter :>4 or the "Education Code) regularly enrolled in the' '
University at each regular fall and spring semester and at each
term or eacn summer session, for the general use and availability
of the University, in such amounts, without any limitation what
soever, as wxll be at least sufficient at all times to orovide
together with other Pledged Revenues, the money for making all'
deposits required to be made to the credit of the Interest and
Sinking Fund and Reserve Fund in connection with the 3onds and
any Additional 3onds.
(b) That it is hereby resolved, declared, and confirmed
that, commencing and effective with the regular 19 77 fall
semester of the University, the General Fee has been and is
hereby fixed and levied, and was and shall be charged and
collected at the rates as follows:
44-44
45
Per Regular Semes car
Fall and Spring
Per Sumner Session Term
Semester Credit
Hours Enrolled
1
2
3
4
5
' 6
7.
8
9
10
11
12 or more
Per Student
General Fee
4,74
9,48
14,22
17.38
20,54
22.91
26.07
28.44
31.60
33.97
37.13
39.50
Semester Credit
Hours Enrolled
1
2
3
L
5
6 or more
Per Student
General Fee
,74
,48
11.35
14.22
16.59
19.75
>by
-ate of
regular semester and summer
session for each regularly enrolled student with such fee not
to exceed $77.55 per regularly enrolled student per regular"
semester or summer session.
and levied and shall be charged and collected at the
$5.17 per semester credit hour per regular semester
f
(d) That the General Fee shall be increased if and when
required by this Section, and may be decreased, so long as all
Pledged Revenues are sufficient to provide the money for making
all deposits required to be made to the credit of the Interest
and Sinking Fund and Reserve Fund in connection with the Bonds
and any Additional Bonds. All such changes in the General.Fee
shall be made by resolution of the Board, but such procedure
shall not constitute or be regarded as an amendment of this
Resolution, but merely the carrying out of the provisions hereof.
(e) That it is specifically found and determined by the
Board that the Series 1979 Bonds are issued pursuant to Section
55.17 of the Education Code, to be secured by a pledge of an
unlimited use fee (the General Fee), and that (1) the estimated
maximum amount per semester hour of the pledged General Fee
(based on current enrollment and conditions) during any fucure
semester to provide for the payment of che principal of and
interest on the Series 19 79 Bonds when due, together with (2)
the aggregate amount of all use fees levied on a semester hour
basis for the coming fall semester of 1979 to pay the principal
of and interest on all previously issued bonds* do not exceed
$6.00 per semester hour; and it is hereby further found and de- :
Carained that Che aggregate of all use fees levied on a semester
hour basis for the coming fall semester is not more than $6.00
per semester hour, which amount includes the aforesaid pledged
General Fee in the amount of not more than $5.17 per semester
hour as cf the 19 79 fall semester, which is more than sufficient
(based on current enrollment and conditions) to provide, for the
current semester and each fucure semester, for the payment of
che principal of and interest on all of the Bonds, including the
Series 1979 Bonds. . 3 ■ ■
44-45
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(a) 55.00 from each enrolled student for each
regular semes Car; . .
• (b) $2.50 from each enrolled student for each '
■ ■ ■ ■ summer term; . : .. . . i
I cSllecri5uildin? USe Fae sha11 be so levied, charged, and I !, collected m snch «Mmf,. 30 long as any Bonds or Additional '
;! m<^ /I outstanding, such amounts being the maximum now per-
| mitted by Chapter d5 of the Texas Education Code. ''
^l^t^heJ\±t ^ereb^ seated and shall be
i^»"? and^elrare, in connection with the Bonds, che Build-ing
Use Fee.axter- tae Series 1963 Bonds or bonds issued to -»-
^S'S^! ^ |°ndS «* n° l°^ outstanding"and unpaid
gee Revenues shall be creditad to the Revenue a
Fund
Section 12. That to pay the principal of and interest on
all outstanding 3onds and any Additional Bonds, as the sane
comes due there is hereby created and shall be established at
a^ °^-=^l aepository of the University, which must be a mem-
, ber of the rederal Deposit Insurance Corporation, a separat-
Fund to be entitled "General Fee Revenue Bond Interest and
!| Sinking rund hereinafter sometimes called "Interest and
a oinking Fund .
!| ■
■ **r t,?uj-L3" That Chere l3 hersb7 created and shall be
: established at an official depository of che University (which
i must be a member of the Federal Deposit Insurance Corporation)
a separata fund to be entitled "General Fee Revenue 3ond Re
serve rund , Hereinafter sometimes called "Reserve Fund" which
q,wei ^3 /a Sed fU^J.a-U7y l— r-ciirii n3 =h^ e Il ast of its Outstanding
Bonds and any Additional Bonds, or for payment of the pr^ncinal
, or and interest on any Outstanding Bonds and Additional Bonds
;when and to the extent the amount in the Interest and Sinking'
;. .und is otherwise insufficient for such purpose.
!! Section 14. Money in any Fund maintained pursuant to th's
j Resolution may, at the option of the Board, be placed in f'me
deposits or invested in direct obligations of, or obligations
tne principal of and interest on which are guaranteed by, the
united States of America, and evidences of indebtedness of -he
rederal Land Banks, Federal Intermediate Credit Banks 3anks
ror^Cooperatives, Federal Home Loan Banks, or Federal National
;, uauional Mortgage Association; nrovided that all such denosits
I and investments shall be made in such manner that rhe money
: required to be expended from any Fund will be available a^ the
; proper time or times. Such investments shall be valued in
, terms or current market value as of -he last dav of Februarv
:, and August of each year. Interest and income derived from such
deposits and investments shall be credited to the Fund from
! which the deposit or investment was made. Such investments
; snail be sold promptly when necessary to prevent any default
; in connection with the Bonds or Additional Bonds.
I 44-46 8
47
Seccion 15. That all money in all Funds created bv "his
Resolution, to c-e extent not invested, snail be secured in "he ■
manner prescribed by Law. for securing funds of the Un<ve-sitv
m principal amounts at all tines noc Less than the amounts of
money credited to such Funds, respectively.
Section 16. That; all- accrued interest and anv premium i
.from che sale of r:he Series 1979 3onds shall be deposited into • j
jthe Interest and Sinking'Fund, and chat the Board shall transfer i
jfrom the Pledged Revenues in the Revenue Fund and deposit~to the' |
credic of the Interest and Sinking Fund the amounts/at the
times,- as follows-: . . . .- ...
(1) On or before July 25, 1979, and semi-annuallv
on or before each January 25 and July 25 thereafter, an
amount which will be sufficient, together with other •
monies, if any, then on hand therein and available for j
such purpose, to pay the interest scheduled to accrue !
and come due on the Bonds on the next succeeding interest I
payment date; and :
(2)_ On or before January 25, 1979, and semiannually i
on or berore each January 25 and July 25 thereafter, an '
amount equal to one-half of the principal scheduled to '
mature and come due on the Bonds on the next succeeding
principal maturity date. °
Section 17. That on or before July 25, 1979, and semi-annually
on or before each January 25 and. July 25 thereafter
the Board shall transfer from the Revenue Fund and deposit to
the credit of the Reserve Fund, an amount equal to l/10th of
the average annual principal and interest requirements of the
|j Bonds; provided, however, that when the money and investments in ■
j the Reserve Fund are at least equal in market value to the amount1
; of the average annual principal and interest requirements of the
j| Bonds, then such deposits may be discontinued, unless and until
the Reserve Fund should be depleted to less than said amount in
;[ market value, in which case said deposits shall be resumed and
i, continued until the Reserve Fund is restored to said amount- and
■jso long as the Reserve Fund contains said amount, any surplus in
!• the Reserve rund over said amount may be used to retire any
■Bonds or Additional 3onds by purchase on the open market, at
jsuch price as shall be determined by the Board, or bv call for
•i redemption prior to maturity (provided that if any Bond or
.Additional Bond is subject to call for redemption prior to
jmaturity on the next succeeding interest payment date, its pur-
|chase price shall not exceed the redemption price that would be
.applicable on such date), or such surplus may be used for any
other lawful purpose, at the ODtion of the Board.
<j^ Section 13. (a) That if on any occasion there shall not
;j be- sufficient Pledged Revenues to make the required deposits I
j into the Interest and Sinking Fund and the Reserve Fund, then !
| such deficiency shall be made up as soon as possible from the I
;!next available Pledged Revenues , or from any" other sources j
available for such purpose. j
44-47
48
(b) That immediately following each required semi-annual
aeposit irocri che Revenue F'jndco the credit of the Inc —st anH
Sinking Fund and the Reserve Fund, as required bv c.V s R«sol--
:ion, or any resolution authorizing che issuance'of Additional
Bonds, all remaining surplus Pledged Revenues chen on denosir
to tne credit 01 che Revenue Fund nay be used bv che 3oa — for
any lawrul purpose. Ic is specifically covenanted and apra-d
aowever, chat none of che Pledged Revenues in the RevenueVund'
will be released from che control of che Board, or otherwise
expended or disposed of, until after each such required semi
annual deposit: rrom che Revenue Fund has been made to the credit
or the. Interest and Sinking-Fund and the Reserve Fund.
Section 19. On or before the last day of July 1979
and semi-annually on or before che last day of each'January and
of each July thereafter while any of the 3onds or Additional
Bonds are outstanding and unpaid, the Board shall.make available
to the paying agents therefor, out of the Interest and Sinking
Fund, and/or the Reserve Fund, if necessary, money sufficient to
pay such incerest on and such principal of the Bonds and Addi
tional Bonds as will accrue or mature on the August 1st or
February 1st immediately following. The paying agents shall
totally destroy all paid Bends and Additional Bonds, and Che
coupons appertaining thereto, and shall furnish the Board with
an appropriate certificate of destruction.
I Section 20. That at such times as the a^rewce amount
1 or money and investments in the Interest and Sinking Fund and the
I Reserve Fund are at least equal in market value to (1) the aggre-^
I gate principal amount of all unpaid (unmatured and matured) out- '
I standing Bonds and Additional Bonds, plus (2) che aggregate |
j amount of all unpaid (unmatured and matured) outstanding interest!
j coupons appertaining to such Bonds and Additional Bonds, no fur- '
j Cher deposics need be made inco the Incerest and Sinking Fund
I or Reserve Fund, In determining the amount of such Bonds and
jAdditional 3onds, and interest coupons appertaining thereto
j outstanding at any.time, there shall be subtracted and excluded !
jthe amount of any such Bonds and Additional Bonds, and interest !
; coupons appertaining thereto, which shall have been duly called I
j for redemption and for which funds shall have been deposited \
I with the paying agents therefor sufficient, including any re- j
; quired redemption premium, for such redemption, ' I
I —
Section 21. That the 3oard shall have che righc and
power at any time and from time Co Cime, and in one or more
Series or issues, co authorize, issue, and deliver addicional
parity revenue bonds (herein called "Additional Bonds"), in any
amounts, for any lawful purpose, and to refund any Bonds, Addi
cional Bonds, or any existing indebtedness of the University.
Such Addicional Bonds, if and when authorized, issued, and deliv
ered in accordance with this Resolucion, shall be secured and J
payable equally and racably on a paricy with Che 3onds, and all !
other outstanding Addicional Bonds, by an irrevocable first lien!.
on and pledge of Che Pledged Revenues.
10
44-48
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Section 22. (a) Tne Interest and Sinking Fund and che
Reserve Fund established by chis Resolution shall secure and b»
used to pay all Additional 3onds as -.veil as the Bonds, However,
each resolution under which Additional Bonds are issued shall pro
vide and require that, in addition to the amounts required bv the
provisions of this Resolution and the provisions of any oche- r*so
lution or resolutions authorizing Additional 3onds to be deposited
to the credit of che Interest and Sinking Fund, the Board
shall transfer from the Pledged Revenues and deposit to che credit
;or the Interest and Sinking Fund at least such amounts as' are re- :
■quired for the payment of all principal of and interest on said !
.Additional Bonds then being issued, as the same comes due, and i
■jthat the Board shall transfer from said Pledged Revenues and de- j
;_posit to the credit of the Reserve Fund at lease such amounts, in!
^approximately equal semi-annual installments, as will, together j
with any other amounts already required to be deposited in the I
Reserve Fund in connection with the 3onds and any other outscand- I
.ing Additional Bonds, be sufficient to cause the Reserve Fund to 1
accumulate and contain within a period of not to exceed sixty !
months after the date of said Additional Bonds then being issued, '
a total amount of money and investments at least equal in market' i
value to the average annual principal and interest requirements !
or all Bonds and Additional Bonds to be outstanding after the !
issuance of the then proposed Additional Bonds.
;! (b) The principal of all Additional Bonds must be
scheduled to be paid or mature on August 1 of the years in which
..such principal is scheduled to be paid or mature; and all inter
est thereon must be payable on February 1 and August L.
:. Section .23. Additional Bonds shall be issued only in
accordance with this Resolution, but notwithstanding any provi
sions of this Resolution to the contrary, no installment, Series,
or issue of Additional Bonds shall be issued or delivered unless:
;; (a) The senior financial officer of'the University
signs^a written certificate to the effect that the Board is not
in default.as to any covenant, condition, or obligation in con-nection
with all outstanding 3onds and Additional 3onds, and the
resolutions authorizing same, and that the Interest and Sinking
Fund and the Reserve Fund each contains the amount then required
to be therein. *
! (b) The State Auditor of the State of Texas, or a
certified public accountant, signs a written certificate to the
effect that, during either the next preceding fiscal year, or
any twelve consecutive calendar month period ending not more
than ninety days prior to the adoption of the resolution author
izing the issuance of the then proposed Additional Bonds, the
Pledged Revenues were at least equal to 1.25 times the average
annual principal and interest requirements of all Outstanding
Bonds and Additional Bonds.
1 -
■I (c) The senior financial officer of the University
signs a written certificate to the effect that during each
University fiscal year, while any Bonds or Additional Bonds are
scheduled to be outstanding, beginning with the fiscal year next
following the date of the proposed Additional Bonds, the Pledged
Revenues estimated to be received during each of said fiscal
years, .respectively, will be at least 1.25 times the principal
and interest requirements on all then Outstanding Bonds and'
Additional Bonds, and the then proposed Additional 3onds, during
each of said fiscal years, respectively.
44-49
50
Section 24. The 3oard further covenants and agrees
chac:
(a) It will fix, impose, charge, and collect all
Pledged Revenues; and will faithfully perform at all tines anv
and all covenants, undertakings, stipulations, and provisions'
contained in this Resolution and each resolution authorizing the
issuance of Additional Bonds, and in each and every Bond and :
Additional Bond; chat it will promptly pay or cause to be paid j
from the Pledged Revenues the principal of and interest on'every ■
;Bond and Additional Bond, on the dates and in the places and j
.manner prescribed in such resolutions and Bonds or Additional I
IjBonds;. and that it will, at the times, and. in. the manner prescribed,
jjdeposit or cause to be deposited from the Pledged Revenues the " '
■jamounts required to be deposited into the Interest and Sinking
ijFund and the Reserve Fund; and any holder of the Bonds or Addi
tional Bonds may require the 3oard,- its officials or employees,
;and any appropriate official of the State of Texas, to carry out,
■jrespect, or enforce the covenants and obligations of this Resol-'
ution or any resolution authorizing the issuance of Additional
3onds, by all legal and equitable means, including specifically,
but without limitation, the use and filing of mandamus proceed-'
ings, in any court of competent jurisdiction, against the 3oard,
jits officials and employees, or any appropriate official of the'
;State of Texas,
ii
i| (b) It is duly authorized under the laws of the State
of Texas to create and issue the Bonds; that all action on its
part tor the creation and issuance of the Bonds has been duly and
.effectively taken, and that the Bonds in the hands of the holders '
and owners thereof are and will be valid and enforceable special '
.obligations of the Board in accordance with their terms.
( (c) It lawfully owns and is lawfully possessed of the i
lands, buildings, and facilities constituting the University and I
its campus and has a good and indefeasible estate in such lands !
buildings, and facilities in fee simple, that it warrants that ' |
■it has, and will defend, the title to all the aforesaid lands, j
buildings, and facilities, and every part thereof, for the bene- !
fit of the holders and owners of the Bonds and Additional Bonds j
against the claims and demands of all persons whomsoever, that it I
is lawfully qualified to pledge the Pledged Revenues to the pay- j
mentof the Bonds and Additional 3onds in the manner prescribed \
herein, and has lawfully exercised such rights* !
; i
:| (d) It will from time to time and before the same be- !
come delinquent pay and discharge all taxes, assessments, and |
governmental charges, if any, which shall be lawfully imposed I
upon it, or the campuses, buildings, and facilities of the I
University, that it will pay all lawful claims for rents, roy
alties, labor, materials, and supplies which if unpaid might by I
law become a lien or charge thereon, the lien of which would be !
prior to or interfere with the liens hereof, so that the priority i
of the liens granted hereunder shall be fully preserved in the :
manner provided herein, and that it will not create or suffer to :
be created any mechanic's, laborer's, materialman's or other lien I
or charge which might or could be prior to the liens hereof, or j
do or suffer any matter or thing whereby the liens hereof might j
or could be impaired; provided, however, thac no such tax, assess-/
ment, or charge, and that no such claims which might be used as •
the basis of a mechanic's, laborer's, macerialman's or other lien I
or charge-, shall be required to be paid so long as the validity
of the same shall be contested in good faith by the 3oardo j
44-50 u |
51
(e) Thac ic will continuously and afficiantlv ooe*-at=>
and maintain in good condition,. and ac a raasonabla cose '-he
University and chs facilities ana sen/ices thereof, so Ion-'as
any Bonds or Additional Bonds are outstanding.
(f) That while the Bonds or any Additional 3onds are
outstanding and unpaid, the Board shall not additionally encumber
the Pledged Revenues in any manner, except as permitted in this
.Resolution in connection with Additional'Bonds', unless said en
cumbrance is made junior and subordinate in all respects to the
jiiens, pledges, covenants, and agreements of this Resolution.
u- u JP, Pr°Per books of record and account will be kept
,in which full, true, and correct.entries will be made of all ' !
{dealings, activities, and transactions relating to the Pledged !
.Revenues, and all books, documents, and vouchers relating thereto !
shall at all reasonable times be made available for insoection i
upon request of any bond holder. ' |
■ . . _ ,(h) Thac each ym* while~^n7*of the~7onds or Add- '
:tional Bonds are outstanding, an audit, will be made of < .-3 books :
:and accounts relating to the Pledged Revenues bv rhe State !
.Auditor or the State of Texas, or any certified nublic accoun- |
; ant such auait to be based on the fiscal year of the UnivSty
As soon as practicable after the close of each such fiscal vear '
and wnen said audit has been completed and nade availlb % ' I
i J,0^' a1c°P'^ of su=h audit for the preceding fiscal ve*a-j
shall be mailed to all bondholders who shall so request in wri-- |
ing Such annual audit renorts shall be ooen to the inspection l
1°;S ^ ^ W" d ~P-entatives L all"
Board covenants that it will not permit
t£is%fen?S1 rediC °°ff y °ff Ch e ??undds createdPb 7 jthis Resolution or applied to the payment of the princioal of
interesu on the Bonds or any Additional Bonds, ar.v oroc^ds
niSanCA 3ubsld'/' ^nation, or income received fronTche
States Government, whether pursuant to agreement or
^otherwise, ir such deposit or aoplication would" resul- -n
;:interest payable on the Bonds or Additional Bonds bein^ Includ-
;^r'm " " ^^ ^ °T°SS inC°me f°r FedaraL inc^ tax
■!-n nr -u (j) Thacjche Board covenants that it *all cotnnl/ with
.all o. une terras and conditions of any and all ^ant or subsidy
.agreements applicable to the Bonds or Additional ^ds en? red'
g r^.Ten C-1S B°ard and my governmental agency in connec-
In ^y SranC °r debC ser^cs s^sidy; and the Board will
all action necessary to enforce said tarns and conditions.
25-' Thac aicher che Chairman or the Vice-chairman
Sf rffH " ^Rf?CS is hereby, authorised to have control
>°L - /* ^ aU neces3a^ records and proceeding oertain-
;ing o said 3onds pending their delivery and their inves ti^ti on
examination, and approval by the Attorney General of tbe State
or Texas, and their registration by the Controller of Public
Accounts ot the State of Texas. Uoon registration of saM
•bonds, saia Comptroller of Public Accounts (or a deputy des-
'J^lt L? urxc-*f r-° ac^ =or said Comptroller) shail manually
a-sn the Lompcroller's Registration Certificate orinted and
encorsed on each of said Bonds, and the seal of said Comotroller
»nall oe impressed, or placed in facsimile, on each of said
bonds.
44-51
52
Section 25. That the Board covenant to and VJL. •
■ purchasers of che Beads chat it will make no uJa of thVoro-ceeas
ot the Bonds at any time throughout the cara of f\Vs
issue 01 Bonds which, if such use had been reasonably -oect-d
on the -ata of-delivery of the 3ov.es to and pavnep- >:r "---.a
^oncs dv :he purchasers, vouli have caused the' 3onds r0 -oe
• aroicrage bonds within the meaning of Section L03(c) of "he
. Internal Revenue Code of 195'-, as' amended, or anv're*uiat^ons
; or rulings pertaining tnereto ; and by this covenant the Board
I is oongatec to comply with the requirements of the aforesaid
Section 103(c) and all applicable and pertinent Department
•| ot tne Treasury regulations relating to arbitrage bonds, The
Board further covenants that the proceeds of the Bonds wilf ~
noc otherwise be used directly or indirectly so as to cause
all or any part of che 3onds to be or become arbitrage bonds
j within the meaning of the aforesaid Section 103(c), or anv
,1 regulations or rulings pertaining thereto.
J _ Section 27. That it is hereby officially found and dec— .
1 cunea: tnac a case or emergency or urgent public necessity
I exists which requires the holding of the meeting at which *\Vs
Resolution is adopted, such emergency or urgent°public VecessJ- tv :
being that the proceeds from the sale of said Bonds are required=
as soon as possible and without delay for necessary and urgently'
needed public improvements; and that said meeting was open%o
the public, and public notice of the time, place, and purpose i
ot said meeting was given, all as required by Vernon's Ann.Civ i
St. art. 6252-17, as amended. ' j
Section 23. mat said Bonds are hereby sold and shall
be delivered to CULLZM CE-TTZR 3AiNTK & T?.L?ST t
for cash for the par value thereof and accrued interest thereon
to^date of delivery, plus a premium of $ -Q- It is hereby
officially found, determined, and declared that said purchaser
is the highest bidder for said Bonds as a result of invitations
for competitive bids, and that said Bonds have been sold at
] public sale to the bidder offering the lowest interest cost,
I after receiving sealed bids pursuant to an Official Notice of
.1 Sale and Official Statement, dated March 1, 1979, Dreoared
I and distributed in connection with the sale of said'bonds, .-
1 Said Official Notice of Sale and Official Statement have been
.! and are hereby approved by the 3oard of Regents. It is further
I officially found, determined and declared that the statements
■j and representations contained in said Official Notice of Sale
j and Official Statement are true and correct in all material
) respects, to the best knowledge and belief of the Board of
! Regents.
14
44-52
53
79-74
Upon motion of Regent Samuel, seconded by Regent Powers, with all members
voting aye, it was ordered that the University Woods Apartments - Phase 1
(Nos. 301 - 332) rental rates be set at $320.00 per month for the two-bedroom
apartments and $230.00 per month for the one-bedroom apartments.
79-75
Upon motion of Regent Todd, seconded by Regent. Justice, with all members
voting aye, it was ordered that the Student Union Building Operating Fee
be assessed at $5.00 per student enrolled for course work on the main
campus of the University during the Fall or Spring semesters and $2.50
per student enrolled for course work in each summer session six-weeks1
term, and that this fee become effective with the Fall Semester, 1980.
79-76
Upon motion of Regent Perkins, seconded by Regent Todd, with all members
voting aye, it was ordered that the general fee (Building Use Fee) be
assessed at $6.00 per student semester credit hour enrolled by each stu
dent, with a maximum of $90.00 per student in the Fall or Spring semesters
and a maximum of $36.00 per student enrolled in a summer six-weeks1 term,
and that these fees be effective with the Fall Semester, 1979.
79-77
Upon motion of Regent Justice, seconded by Regent Perkins, with all members
voting aye, it was ordered that the following budget adjustments for the
1979 year be approved:
Acct. Name Reason
Professional Counsel
0§M Expense
SIGI Terminals
Student Assistants
Off-campus summer
instructors
Source of Funds: Education and General Surplus
79-78
Upon motion of Regent Wright, seconded by Regent Todd, with all members
voting aye, it was ordered that the room and board rates for dormitories for
the fiscal year 1980, as approved in the meeting of February 3, 1979, be
amended so as to be increased by $10.00 in each fall and spring semester
and $4.00 in a summer six-weeks1 term.
44-53
54
79-79
Upon motion of Regent Perkins, seconded by Regent Todd, with all members
voting aye, it was ordered that the contract in the amount of $5,078,000
to the Allen M. Campbell Construction Company, Tyler, Texas, for the Uni
versity Center Expansion/Remodeling Project, be approved and the Chairman
of the Board be authorized to sign the contract.
44-54
• '; ,. 55
AGREEMENT BETWEEN OWNER AND CONTRACTOR
THE STATE OF TEXAS
KNOW ALL MEN BY THESE PRESENTS
COUNTY OF NACOGDOCHES
AGREEMENT
Made as of the Nineteenth day of APRIL in the year of Nineteen Hundred and
Seventy Nine
BETWEEN THE OWNER: STEPHEN F. AUSTIN STATE UNIVERSITY, NACOGDOCHES,
TEXAS 75962, acting herein through its Chairman
AND THE CONTRACTOR: ALLEN M. CAMPBELL COMPANY, GENERAL
CONTRACTORS, INC., TYLER, TEXAS
THE PROJECT: UNIVERSITY CENTER ADDITIONS AND RENOVATIONS 1979
THE ARCHITECT: KENT-MARSELLOS-SCOTT,
ARCHITECTS-ENGINEERS
404 PERRY BUILDING
LUFKIN, TEXAS 75901
The Owner and the Contractor agree as set forth below:
44-55
56
ARTICLE 1
THE CONTRACT DOCUMENTS
The Contract Documents consist of this Agreement, the Conditions of the Contract
(General, Supplementary and other Conditions), the Drawings, the Specifications,
all Addenda issued prior to and all Modifications issued after execution of this
Agreement. These form the Contract, and all are as fully a part of the Contract
as if attached to this Agreement or repeated herein. An enumeration of the
Contract Documents appears in Article 7.
ARTICLE 2
THE WORK
The Contractor shall perform all the Work required by the Contract Documents
for
UNIVERSITY CENTER, ADDITIONS AND RENOVATIONS 1979,
STEPHEN F . AUSTIN STATE UNIVERSITY
NACOGDOCHES, TEXAS
ARTICLE 3
TITLE OF COMMENCEMENT AND SUBSTANTIAL COMPLETION
The Work to be performed under this Contract shall be commenced on or before
a date to be specified in a written "Notice to Proceed11 by the Owner and,
subject to authorized adjustments, Substa

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Transcript

MINUTES OF
Board of Regents
of
Stephen f. Austin State University
VOLUME NO. 44
April 19, 1979
Nacogdoches, Texas
INDEX
Minutes of the Meeting
Stephen F. Austin State University
Board of Regents
held in Nacogdoches, Texas
April 19, 1979
VOLUME NO. 44
Page
79-49 Election of Chairman 44-2
79-50 Election of Vice Chairman 44-2
79-51 Election of Secretary to the Board 44-2
79-52 Approve of Minutes of February 3, 1979 44-2
79-53 Summer School Faculty and Staff Appointments 44-2
79-54 Faculty fT Staff Appointments 44-2
79-55 Resignations 44-5
79-56 Changes in Status 44-7
79-57 Leaves of Absence 44-8
79-58 Promotions 44-9
79-59 Promotions to Emeritus Status 44-11
79-60 Tenure Awards 44-11
79-61 Retirements 44-12
79-62 Approval of Request for Major Concentration of
Business Data Processing in the B.B.A. Degree
Program 44-12
79-63 Approval of Request for a Bachelor of Science in
Rehabilitation Degree Program for Transmission
to the Coordinating Board, Texas College and
University System 44-12
79-64 Approval of Request for a Bachelor of Social Work
Degree Program for Transmission to the Coordinating
Board, Texas College and University System 44-13
79-65 Approval of Compensation for Teaching Off-Campus
Courses 44-13
79-66 Approval of Amendment to Retirement Policy 44-13
79-67 Approval of Faculty and Staff Appointments for
Nine-Months Employment 44-13
79-68 Approval of University's Admission Policy for High
School Graduates 44-13
79-69 Designation of Support for University Scholars
Program 44-14
79-70 Approval of Statement of the Board of Regents Con
cerning Student Government Inquiry 44-14
79-71 Resolution to Dr. Gordon Beasley - 44-14
79-72 Authorization to Sell $1,250,000 SFASU Student Housing
System Revenue Bonds, Series 1979 44-16
79-73 Authorization to Sell the $5,500,000 SFASU Combined Fee
Revenue Bonds, Series 1979 44-37
79-74 Approval of Rental Rates for University Woods Apart
ments - Phase 1 (Nos. 301 - 332) 44-53
Page
79-75 Approval of Assessment of Student Union Building
Operating Fee 44_ 53
79-76 Approval of Assessment of Building Use Fee 44-53
79-77 Approval of Budget Adjustments 44-53
79-78 Amendment of Room and Board Rates Beginning 1979
Fall Semester 44-53
79-79 Approval of Contract with Allen M. Campbell Company--
University Center Expansion-Remodeling Project 44-54
79-80 Approval of Project Budget for University Center
Expansion-Remodeling Project 44-76
79-81 Approval of Contract with F. R. Lewis Construction
Company - Paving 1979 44-76
79-82 Approval of Contract with John Lee Slaughter,
Incorporation - Painting East Tower of Dorm 17 44-92
79-83 Authorization to Complete Planning, Obtain Bids,
and Award Contracts (upon Approval of Chairman
of Board) on Four Projects 44-1Q8
79-84 Approval of Change Order No. 1 - Fine Arts Building
Cooling Tower 44-iqs
MINUTES OF THE MEETING
BOARD OF REGENTS
STEPHEN F. AUSTIN STATE UNIVERSITY
HELD IN NACOGDOCHES, TEXAS
PRESENT:
PRESENT:
PRESENT:
April 19, 1979
Bryce> aairman of the Board
Members: Homer Bryce of Henderson
Ernest Powers of Carthage
James I. Perkins of Rusk
Walter C. Todd of Dallas
Mrs. Peggy Wright of Nacogdoches
Robert E. Samuel, Jr. of Madisonville
Glenn Justice of Dallas
Joe Bob Golden of Jasper
Absent: Mrs. George Cullum, Jr. of Dallas
C. G. Haas, Secretary to the Board
Dr. William R. Johnson, President of the University
Dr. Billy Joe Franklin, Vice President for
Academic Affairs, SFASU
Dr. Gordon Beasley, Vice President for
Student Affairs, SFASU
Robert Provan, Legal Counsel, SFASU
Visitors: Dana Sneed, SGA President
(Students) Kathy Cunningham, Editor of Pine Log
Paul Robin, Hall Improvements Chairman of RHA
Billy Askings, representing P. E. Department
Lum Edwards, representing P. E. Department
Greg Powell, Liberal Arts Senator
Blake Sills, RHA President
Visitor: Lesa Sims, Daily Sentinel Reporter
79-49
Upon motion of Regent Perkins, seconded by Regent Golden, with all members
voting aye, it was ordered that Regent Bryce be elected as Chairman of
the Board.
79-50
Upon motion of Regent Perkins, seconded by Regent Golden, with all members
voting aye, it was ordered that Regent Powers be elected as Vice Chairman
of the Board.
79-51
Upon motion of Regent Perkins, seconded by Regent Todd, with all members
voting aye, it was ordered that C. G. Haas be elected as Secretary to the
Board. J
79-52
Upon motion of Regent Todd, seconded by Regent Justice, with all members
voting aye, it was ordered that the minutes of February 3, 1979, be approved.
79-53
.Upon motion of Regent Justice, seconded by Regent Powers, with all members
voting aye, it was ordered that the 1979 Summer School Faculty and Staff
appointments as submitted under separate cover be approved.
79-54
Upon motion of Regent Todd, seconded by Regent Powers, with all members
voting aye, it was ordered that the following individuals be employed for
the positions, dates, and salaries indicated:
1. Division of Applied Arts and Sciences
Dr. Mary Appleberry
Dr. John Austin
Mr. Richard Bales
Dr. Arthur Benoy
Dr. B. G. Bizzell
Dr. Duke Brannen
Dr. Robert Brooks
Dr. Bennett Cooksey
Dr. George Cooper
Dr. Harry Downing
Dr. Raymond Eastman
Dr. Ralph Eddins
44-2
Dr. Donald Evans
Dr. Don Fare
Dr. Thomas Franks
Mr. Charles Gardner
Dr. William Heeney
Ms. Valdyne Henderson
Dr. Harold Hill
Dr. Jerry Irons
Dr. Jere Jackson
Dr. Sue Jones
Dr. Langston Kerr
Mr. Johnny T. Long
Dr. James McReynolds
Dr. Samir Maamary
Dr. Norman Markworth
Dr. Morgan Moses
Dr. Milton Payne
Dr. David Petty
Dr. Rebecca Raburn
Dr. Odis Rhodes
Dr. Elvia Rodriguez
Dr. Jose Rodriguez
Ms.. Jean Rudisill
Dr. Dwane Russell
Dr. Alfred Shivers
Dr. Frank Smith
Dr. Stephen Smith
Dr. Kurt Stanberry
Dr. M. B. Wade
Dr. Ralph White
2. Department of Accounting
Ms. Normah J. Atherton, 27, B.B.A. (Stephen F. Austin State Uni
versity), C.P.A., Lecturer (25% time) of Accounting at a salary rate
of $1,500 for the Spring Semester, 1979, only.
Mr. Billy Wayne Wilson, 34, M.B.A. (University of Texas-Austin),
Lecturer (25% time) of Accounting at a salary rate of $1,500 for the
Spring Semester, 1979, only.
Mr. Clyde E. Sheffield, 55, B.B.A. (Southern Methodist University),
C.P.A., Lecturer (25% time) of Accounting at a salary rate of $1,500
for the Spring Semester, 1979, only.
3. Department of Communication
Ms. Patricia Ann Kasselman, 25, M.A. (Stephen F. Austin State Uni
versity), Graduate Intern in Communication at a salary rate of $4,500
for the Spring Semester, 1979, only.
44-3
4. School of Forestry
Mr. Charles E. Allen, 30, M.S. (Stephen F. Austin State University),
Instructor (25% time) of Forestry at a salary rate of Si,545 for the
Spring Semester, 1979, only.
5. Department of Health and Physical Education
Mr. Thomas E Jordan, 47, M.Ed. (Stephen F. Austin State University),
Instructor (75% time) in Health and Physical Education and Assistant
Football Coach and Golf Coach (25% time) at a salary rate of $4 571 43
for the period of March 1 through May 31, 1979.
Mr. Robert J. Landry, 32, M.Ed. (Lamar University), Instructor
(75-o time) m Health and Physical Education and Assistant Football
Coach and Track Coach (25% time) at a salary rate of $4,571.43 for the
period of March 1 through May 31, 1979.
6. Department of Home Economics
Ms. Glenda Lowry, 35, M.S. (Oklahoma State University), Instructor in
Home Economics at a salary rate of $6,500 for the Spring Semester,
1979, only.
7. Department of Music
Ms. Eva Bailey, 54, B.M. (Stephen F. Austin State University), em
ployed as part-time faculty in the Department of Music to teach three
contact hours weekly at a salary rate of $450 for the Spring Semester,
1979, only.
Ms. Janet S. Greive, 39, M.M. (Peabody Conservatory), employed as
part-time faculty in the Department of Music to teach four contact
hours weekly at a salary rate of $600 for the Spring Semester 1979
only. '
8. Department of School Services
Mr. Timothy L. Roper, 32, M.Ed. (University of Texas-Austin), In
structor (25% time) in School Services at a salary rate of $1,500
for the Spring Semester, 1979, only.
9. University News Service
Ms. Martha Ann McConnell, 22, B.A. (Stephen F. Austin State Uni
versity), Photographer at a salary rate of $9,852 for twelve months,
effective April 1, 1979.
44-4
10. University Computer Center
Mr. Alan Hogan, 24, B.S. (Stephen F. Austin State University)
Computer Operator at a salary rate of $8,892 for twelve months, ef
fective March 6, 1979.
11. Student. Affairs Division
■Dr. Richard Dean English, 31, M.D. (Baylor College of Medicine),
Physician for Health Services at a salary rate of $31,000 for 10-1/2
months, effective February 1, 1979.
Ms. Berta Louise Bouchard, 53, Registered Nurse for Health Services
at.a salary rate of $11,268 for twelve months, effective March 26
1979. '
12. Personnel Office
Mr. David W. Fry, 33, M.A. (Stephen F. Austin State University),
Director of Personnel Services at a salary rate of $19,000 for twelve
months, effective April 1, 1979.
13. Physical Plant
Mr. Frederick Wyatt Tucker, Jr., 39, Manager of Custodial Services
at a salary rate of $13,000 for twelve months, effective February 12,
79-55
Upon motion of Regent Justice, seconded by Regent Todd, with all members
voting aye, it was ordered that the following resignations be accepted:
1. Department of Health and Physical Education
Mr. Tom Flood, Instructor and Assistant Football Coach, effective
February 28, 1979. Mr. Flood has accepted other employment.
Mr. John Hawkins, Instructor and Assistant Football Coach,
effective February 28, 1979. Mr. Hawkins has accepted other employment,
2. Department of Home Economics
Ms. Carol Ann Patton, Instructor, effective January 15, 1979. Ms.
Patton resigned by telephone following Christmas vacation.
3. Department of School Services
Ms. Vera Graham, Assistant Professor, effective January 31, 1979.
Ms. Graham has accepted other employment.
44-5
4. University News Service
Mr. Steve Dodd, Photographer, effective March 31, 1979. Mr Dodd
has accepted other employment.
5. University Computer Center
Mr. Tom Akers, Computer Operator, effective January 23, 1979 Mr
Akers has accepted other employment.
6. Personnel Office
1Q7Q* SailyDSUZamie Roman°> Di^ctor of Personnel, effective March 2,
1979. Ms. Romano accepted a position with another university.
1Q7Q* CMarlptte Barnes' Pei>sonnel Assistant, effective March 31,
1979. Ms. Barnes is moving to Woodville, Texas
7. Physical Plant
Mr. Jet 0. Lewis, Safety Officer, effective January 31, 1979 Mr
Lewis has accepted other employment.
Mr. Dana C. Brewton, Grounds Foreman, effective February 15 1979
Mr. Brewton has accepted other employment.
Mr. Harmond T. McCool, Mechanical Maintenance Supervisor, effective
February 16, 1979. Mr. McCool has accepted other employment.
8. Office of Traffic Safety
io7q' ^ J: W°1£f' ArSa Traf£ic Engineer, Effective February 12
iy/y. This branch office was closed on campus and relocated in another
area.
Mr. James P. Doane, Director, effective February 28, 1979 This
branch office was closed on campus and relocated in another area.
Ms. Sue Evans, Administrative Assistant, effective February 28
1979. This branch office was closed on campus and relocated in another
area*
9. Student Affairs Division
Dr. William G. Langston, Physician for Health Services effective
January 31, 1979. Dr. Langston is retiring.
Ms. Jo Beth Brown, Associate Administrator for Health Services
effective January 31, 1979. Ms. Brown has accepted other employment.
44-6
Mr. Willie Jones, Jr., Fatrol Officer I for University Police ef
fective February 14, 1979. Mr. Jones has accepted other employment.
Ms Jewel Hunt Assistant Catering Supervisor for U. C. Food Services,
effective March 5, 1979. Ms. Hunt resigned for personal reasons.
Dr. William H. Siddon, Physician for Health Services, effective
March 19, 1979. Dr. Siddon accepted a position with another hospital.
Ms Mary Ann Slagle, Registered Nurse for Health Services, effective
March 31, 1979. Ms. Slagle has accepted other employment.
79-56
Upon motion of Regent Wright, seconded by Regent Todd, with all members
voting aye, it was ordered that the following changes in status be approved:
1. Department of Administrative Services
Mr. Wilbert Love, Jr., from Administrative Services Secretary I to
Instructor in Administrative Services at a salary rate of $4,828.13
for 75% time, effective Spring Semester, 1979, only. Mr. Love was
needed m this capacity during the illness of a faculty member.
2. Department of English and Philosophy
Mr. Cydney W. Adams, Graduate Intern in English, from 25% time at
$1,125 to 50% time at $2,250, effective for the Spring Semester 1Q79
only. b ' ' ' '
3. School of Forestry
Mr. Larry Zack Florence, from Graduate Assistant (40% time) to
Research Associate (75% time) at a salary rate of $750 per month for
the Spring Semester, 1979, only.
4. Department of Secondary Education
Dr. William Heeney, Assistant Professor of Secondary Education
from a salary rate of $17,097 to $17,597, effective January 31,
1979. Dr. Heeney has assumed directorship of the Humble and Jasper
field sites.
5. Physical-Plant . ■ •
Ms. Mary Ann Lee, from Secretary I at a salary rate of $6,540 to
Coordinator of Workman's Compensation and Administrative Services
at a salary rate of $7,764 for twelve months, effective March 1, 1979.
44-7
Ms. Helen Louise Stanfield, from Accounting Clerk II at a salary
rate of $7,008 to Accounting Assistant at a salary rate of $8 592 for
twelve months, effective March 31, 1979. ' *
6. Personnel Office
Ms. Lanell Rae Kolb, from Inventory Assistant in the Purchasing
Office at a salary rate of $6,998 to Personnel Assistant in the Personnel
Office at a salary rate of $7,500 for twelve months, effective March 23,
7. Student Affairs Division
Mr. Jay P. DuPree, from Traffic Officer for University Police at a
salary rate of $5,904 to Police Officer I at $8,592 for twelve months,
effective January 1, 1979.
Ms. Martha Gose, from Billing Clerk for Health Services at a salary
rate of $6,108 to Office Manager at a salary rate of $7,248 for twelve
months, effective February 1, 1979.
Mr. David L. Smith, from Traffic Officer for University Police at
a salary rate of $5,904 to Police Officer I at a salary rate of $8,592
for twelve months, effective March 1, 1979.
79-57
Upon motion of Regent Justice, seconded by Regent Wright, with all members
voting aye, it was ordered that the following requests for leave be granted:
1. Department of Elementary Education
Ms. Macra Brunson, Instructor of Elementary Education, for the 1979-80
academic year. Ms. Brunson has requested an extension of her leave to
continue work on a terminal degree.
2. Department of English and Philosophy
Mr. Jarrell Richman, Assistant Professor of English, for the 1979-80
academic year. Mr. Richman has requested an extension of his leave
to continue work on a terminal degree.
3. Department of History
Dr. George Cooper, Assistant Professor of History, for the 1979-80
academic year. Dr. Cooper plans to do research and writing.
Dr. John Dahmus, Associate Professor of History, for the 1979-80
academic year. Dr. Dahmus has been invited to participate in a seminar
sponsored by the National Endowment for the Humanities at Brown University,
44-8
4. Student Affairs Division
Ms. Jackie M. Booker, Office Manager for University Center Food
Services, effective February 9, 1979, for eight months. Ms. Booker
has been granted a leave of absence for health reasons.
79-58
Upon motion of Regent Powers, seconded by Regent Wright, with all members
voting aye, it was ordered that the following recommendations for promotion
be approved:
From Associate Professor to Professor
1. Department of Art
Mr. John Daniel
Mr. James Snyder
2. Department of Chemistry
Dr. Bennie F. Walker
3. Department of Elementary Education
Dr. Mary Appleberry
4. Department of Management and. Marketing
Dr. Bobby Bizzell
5. Department of Psychology
Dr. Heinz Gaylord
From Assistant Professor to Associate Professor
1. Department of Art
Mr. Charles Jones
2. Department of English and Philosophy
Dr. William C.ozart
Ms. Maurice Cecil
Dr. Harry Dale Dawson
3. School of Forestry
Dr. Michael H. Legg
44-9
10
4. Department of History
Dr. John Dahmus
5. Department of Mathematics and Statistics
Dr. Wayne Proctor
Dr. Robert Yeagy
6. Department of Modern Languages
Mr. Edwin Shake
7. Department of Music
Mr. Melvin Montgomery
8. Department of Psychology
Dr. Bruce Bailey
Dr. Larry Pollock
9. Department of School Services
Mr. Bobby D. Bryant
10. Department of Secondary Education
Dr. William Heeney
From Instructor to Assistant Professor
1. Department of Computer Science
Ms. Camille Price
2. School of Forestry
Dr. Montague Whiting
3. Department of Geology
Mr. Martin Deuth
4. Department of History
Ms. Tommie Jan Lowery
5. Department of Sociology
Mr. William Toney, Jr.
These faculty have completed the requirements for promotion and have
been recommended by their department chairmen and deans.
44-10
11
79-59
Upon motion of Regent Samuel, seconded by Regent Todd, with all members
voting aye, it was ordered that the following promotions to Emeritus
status be approved, and that a letter be sent to each individual from the
Chairman of the Board.
1. School of Education
Mr. W. W. Dossey, Ph.M., Professor Emeritus of Health and Physical
Education for Men, Head of Department, effective May 1, 1979.
Dr. Alvera Griffin, Ed.D., Professor Emerita of Health and Physical
Education, effective May 1, 1979.
Dr. Leroy McClendon, Ed.D., Professor Emeritus of Secondary Edu
cation and Coordinator of Student Teaching, effective May 1, 1979.
Dr. Thomas P. White, Ed.D., Professor Emeritus of Secondary Edu
cation, effective June 1, 1979.
2. School of Fine Arts
Dr. Karl T. Schlicher, Ph.D., Professor Emeritus of Art, effective
May 1, 1979.
79-60
Upon motion of Regent Perkins, seconded by Regent Powers, with all members
voting aye, it was ordered that the following awards of tenure be made:
1. Department of Art
Mr. Jon D. Wink
2. Department of Computer Science
Mr. Denis M. Hyams
Ms. Camille C. Price
3. Department of English and Philosophy
Dr. William Cozart
4. Department of Health and Physical Education
Ms, MargeAnn McMillan
Dr. Carolyn B. Mitchell
5. Department of Music
Dr. Robert L. Blocker
44-11
12
6. Department of School Services
Mr. James Armsworth
7. Department of Secondary Education
Dr. William Heeney
8. Department of Sociology
Dr. Joy B. Reeves
9. University Library
Mr. Donald H. Richter
Ms. Bernice Wright
10. Department of Forestry
Dr. Michael Legg
Dr. Montague Whiting .
These faculty have completed the requirements for the awarding of tenure and
have been recommended by their department chairmen and deans.
79-61
Upon motion of Regent Justice, seconded by Regent Todd, with all members
voting aye, it was ordered that the following retirements be accepted:
1. Physical Plant
Mr. Jesse W. Millard, Custodial Supervisor III, effective January 31
1979.
Ms. Novelle Byrd, Accounting Clerk III, effective March 23, 1979.
79-62
Upon motion of Regent Justice, seconded by Regent Powers, with all members
voting aye, it was ordered that the request for a new major concentration of
Business Data Processing in the Bachelor of Business Administration degree
program be approved for transmission to the Coordinating Board, Texas College
and University System.
79-63
Upon motion of Regent Samuel, seconded by Regent Wright, with all members
voting aye, it was ordered that the request for a Bachelor of Science in
Rehabilitation degree program be approved for transmission to the Coordi
nating Board, Texas College and University System.
44-12
13
79-64
Upon motion of Regent Perkins, seconded by Regent Wright, with all members
voting aye, xt was ordered that the request for a Bachelor of Social Work
degree program be approved for transmission to the Coordinating Board,
Texas College and University System.
79-65
Upon motion of Regent Wright, seconded by Regent Powers, with all members
voting aye, it was ordered that instructors be compensated $800 base pay
for teaching off-campus overload courses plus $1.00 per mile round trip
(for one trip) and $300 base pay plus $1.00 per mile round trip (for one
trip) for courses taught off campus as part of a regular teaching load.
79-66
Upon motion of Regent Samuel, seconded by Regent Powers, with all members
voting aye, it was ordered that the policy adopted as Minute Order No.
74-123, adopted on January 25, 1975, be amended by retaining only the
first sentence of the Order, which is as follows:
"The official retirement age for employees of the University is
seventy years, and an employee shall be retired on August 31 "
next after attaining age seventy." ~
79-67
Upon motion of Regent Todd, seconded by Regent Samuel, with all members
voting aye, it was ordered that the faculty and staff appointments for
nine-months' employment, as submitted under separate cover, be approved.
79-68
Upon motion of Regent Perkins, seconded by Regent Todd, with all members
voting aye, it was ordered that the University's admission policy for high
school graduates be as follows:
Required Required
Rank in Class ACT Score o£ SAT (CEEB) Score
Upper Half ■ No minimum No minimum
required required
Lower Half 18 or higher 800 or higher
A student must be a graduate of an accredited high school and must present
a satisfactory test score, and must be graduated in the appropriate quarter
of his/her'graduating class. A student who does not meet college entrance
examination and rank-in-class requirements must attend summer school at an
44-13
14
accredited institution and pass a total of at least nine semester hours of
college transferable work and accumulate a total of at least 18 grade
points (C average) in order to be eligible for admission at Stephen F
Austin State University. Students attempting more than nine hours must
also present a C average. Students in the upper half of their graduating
class will be eligible for admission regardless of their ACT or SAT
scores.
79-69
Upon motion of Regent Todd, seconded by Regent Wright, with all members
voting aye, it was ordered that interest income from the following bequests
be designated for the support of scholarships in the "University Scholars
Program:"
Kerr Estate Fund
Shirley Creek Corporation Stock Fund
(M. M. Stripling Bequest)
Davidson Family Fund
79-70
Upon motion of Regent Perkins, seconded by Regent Samuel, with all members
voting aye, it was ordered that the following statement be approved, which
is in response to the Student Government inquiry, and the Secretary to the
Board shall send a copy to the Student Government Court.
STATEMENT OF THE BOARD OF REGENTS
The Board of Regents wishes to express its appreciation to members
of the Student Supreme Court for their comments in the committee
meeting on April 18, 1979. The Board believes that a clarifi
cation of its intention concerning the meaning of certain pro
visions of the Student Community Constitution will assist the
Student Supreme Court in determining its jurisdictional boundaries.
By its approval of the Student Community Constitution, the
Board intended, and does intend, for the Vice President for
Student Affairs and the President, respectively, to have final
appellate review of all matters brought before the judicial
branch of the Student Government. Also, by its approval, the
Board did not intend, and does not intend, for the Student Supreme
Court to have appellate review of any acts or omissions of the
University administrative officers, or their delegates.
We hope this statement will assist the Student Supreme Court in its
future deliberations.
79-71
Upon motion of Regent Todd, seconded by Regent Powers, with all members
voting aye, it was ordered that Dr. Gordon Beasley be commended for his
eight years of service to Stephen F. Austin State University with the
following resolution.
44-14
15
RESOLUTION OF THE BOARD OF REGENTS
STEPHEN F. AUSTIN STATE UNIVERSITY
WHEREAS, Dr. Gordon Beasley has served with distinction over the past eight years
as Vice President for Student Affairs at Stephen F. Austin State University, and
WHEREAS, Dr. Beasley has accepted the position of Vice President at the University
of Arkansas, and
WHEREAS, Stephen F. Austin State University has benefited significantly from Dr.
Beasley's leadership in the field of Studen t Affairs;
THEREFORE, be it resolved that the Board of Regents of Stephen F. Austin State
University expresses its appreciation to Dr. Gordon Beasley for his service to the University
and wishes him every success in his new position, and
BE IT FURTHER RESOL VED that Dr. Beasley be provided with a copy of this
resolution.
s/s Homer Bryce
Homer Bryce, Chairman of the
Board of Regents
Attest:
s/s C. G. Haas
C.G. Haas, Secretary
April 19, 1979
44-15
16
79-72
Upon motion of Regent Perkins, seconded by Regent Justice, with all members
voting aye, it was ordered that the University be authorized to sell the
$1,250,000 Stephen F. Austin State University Student Housing System Revenue
Bonds, Series 1979 to the lowest qualified bidder, First National Bank in
Dallas, Dallas, Texas, and Associates, and that the Chairman of the Board
be authorized to sign the documents related to the bond issue, as prepared
by Messrs. McCall, Parkhurst, and Horton with the assistance of Russ
Securities Corporation.
44-16
17
1 CERTIFICATE TOR
= RESOLUTION AUTHORIZING THE ISSUANCE OF BOARD OF REGENTS OF
STEPHEN F. AUSTIN STATE UNIVERSITY STUDENT HOUSING SYSTEM
j REVENUE BONDS, SERIES 1979, S1,25O,QQQ
THE STATE OF TEXAS
COUNTY OF NACOGCOCHES '
J STEPHEN F. \USTIU STATE UNIVERSITY
1
j Q . , ;v;e' ^.undersigned officers of the Board of Regents of
|| said University, hereby certify as follows:
I 1- The Board of Regents of said University convened *n
j REGULAR MEETING ON THE 19TH DAY OF APRIL, 1979, at -he r-gGla-j
designated meeding place, and the roll was called of fhe duly*"
|| constituted officers and members of said Board, to-wit:
j Homer Sryce, Chairman James I. Perkins
Smest Powers, Vice Chairman R. E. Samuel', Jr.
Mrs. George Cullum, Jr. Walter C. Todd
:! Joe Bob Golden Mrs. Tom Wright
| Glenn Justice
, . Charles G. Haas, Secretary
and all of said persons were present, except the following
absentees : ^ Ci&LL m< "
thus _constituting a quorum. Whereupon, among ocher business,
Oie rollowmg was transacted at said Meeting: a written
RESOLUTION AUTHORIZING THE ISSUANCE OF STUDENT HOUSING SYSTEM
REVENUE 30NDS
was duly introduced for the consideration of said Board and -Pad
in null. it was then duly moved and seconded that sa;d Resolu
tion oe adopted; and, after due discussion, said motion/carrying
t c1^ adoption of said Resolution, prevailed and carried by
tne following vote: *
AYES: All members of said Board shown present
above voted "Aye".
NOES: None.
2,^ That a true, full, and correct copy of the aforesaid
Resolution adopted at the Meeting described in the abov* and
roregomg paragraph is attached to and follows this Certificate;
tnat saia Resolution has been duly recorded in said 3oard's
minutes of said Meeting; that the above and foregoing oarac;r*ph
is a true, full, and correct: excerpt from said Board's" minut-s
of said Meeting pertaining to the adoption of said Resolution;
tnat the persons named in the above and foregoing paragraph ar=
.ne duly chosen, qualified, and acting officers and members of"
said Board as indicated therein; tnat each of the officers »nd
members or said Board was duly and sufficiently notified offi
cially and personally, in advance, of the time, pLace~~ard~
purpose of the aforesaid Meeting, and that said Resolution would
oe introduced and considered for adoption at said Meeting, and
each of said officers and members consented, in advance, to che
holding of said Meeting for such purpose; and that said Mating
was open to the public, and public notice of the tine, place,
and purpose of said meeting was given, all as reauired bv
Vernon s Ann. Civ. St. Article 6252-17.
SIGN ED AMD SEALED the 19th day of April, 1979.
secretary, 3oard of Regents Chairman, 3oarc of Regents'
SEAL
44-17
18
RESOLUTIOM
c^S2P'"G^S ^SUANCZ OF 3CARD OF REGENTS OF
5v5^?Cp;^T^^IATE ^IV^^ STUDENT HOUSING £-i£l^^.L^T^-M'JE 3C^S , SERIES 1979, 31,250 000
i
; i
YEARS
1980
1931
1932
1933
1984
1935
19-86
1987
1933
1939
1990
1991
MATURITY DATE:
AMOUNTS
$25,000
25,000
25,000
30,000
30,000
30,000
35,000
40,000
40,000
45,000
45,000
50 ,000
Section 3. INTEREST. Than the 3onds scheduiad to -at
duringg thne years, respectivelly , se _ .^_
interest at the following rates per annum:
maturities 1930 through 1990,
maturities 1991 through 1994.,
maturities 19-9 5 through 19 96,
maturities 19 9' through 1993,
maturities 1999 thr.ouch 2COO,
below shall bea>-
6.50%
5.00%
6.10%
5.251,
5.40%
maturities '2001 through 2002, 5.50%
44-18
19
Said interest shall be evidenced by interest coupons which
snail appertain to said 3onds, and which shall be payable in
the manner provided and on the dates stated in uhe*FORM 0F~
3OND set forth in this Resolution.
Section 4. GENERAL CHARACTERISTICS. That the 3onds and
interest coupons shall be issued, shall be payable, may be
redeemed prior to their scheduled maturities," shall have t-he
|| characteristics, and shall be signed and executed (and said
ij Bonds shall be sealed) , all as provided, and in the manner
jj indicated, in the FORM OF 30ND set forth in this Resolution.
'| _ _Section 5. FORMS. That the form of the 3onds , including
the norm of Registration Certificate of the Controller of Public !
Accounts of the State of Texas to be printed and endorsed on !
each of said 3onds, and the form of the aforesaid interest j
coupons which shall appertain and be attached initially to i
each of said 3onds, shall be, respectively, substantially as j
follows: '
FORM OF 3OND
"I0- $5,000 j
UNITED STATES OF AMERICA
STATE OF TEXAS
3OARD OF REGENTS OF
STEPHEN F. AUSTIN STATE UNIVERSITY
STUDENT HOUSING SYSTEM REVENUE BOND
SERIES 1979
ON OCTOBER 1, , THE BOARD OF REGENTS OF STEPHEN F.
AUSTIN STATE UNIVERSITY, for and on behalf of Stephen F. Austin
State University, promisses to pay to bearer hereof the orinci-pal
amount of
FIVE THOUSAND DOLLARS
and to pay interest thereon, from date hereof, at the rate
°f % ?er annum, evidenced by interest coupons payable on
October 1, 1979, and semiannually thereafter while this 3ond
i s outstanding.
;| THE PRINCIPAL of this 3ond and the interest coupons apper-
■j taming hereto shail be payable to bearer, in lawful monev
■■ or the United States of America, without exchange or collection i
:j charges to the bearer, upon presentation and surrender of this !
,; bond or proper interest coupon, at the following, which shall
;! constitute and be defined as the Paying Agent for this Series :
i of bonds: • I
1 . • ■ !
] COMMERCIAL NATIONAL 3ANK, NACOGDOCHES, TEXAS, or at ■
.1 the option of the holder, at THE CHASE MANHATTAN 3ANK, I
!j N.A., NEW YORK, N. Y.
•I
;j THiS 3OND is one of a Series of negotiable, serial; coupon
:j Bonds datad April 1, 1979, issued in the principal amount of i
■j $1,250,000, for the purpose of providing funds to finance addi- j
!; ticnal housing, for and on behalf of the L-niversitv on its campusi
,•! at Macogcoches, Texas, to-wit: construct and eauip" thirty two " j
;| apartments to house one hundred and four sincle students. !
i " i
] _ ON OCTOBER 1, 1933, or on any interest payment date there- i
;; after, any outstanding 3onds of this Series may be redeemed prior!
:j to their scheduled maturities, at the option of said 3oard, "in !
•j whole or in part, for the principal amount thereof and accrued •
!! interest thereon to the date fixed for redemption, plus a premium)
on the principal amount of each 3ond so called for "redemotion as ;
follows:
44-19
20
j E SS2I i: ill! S£$ *# j }■ Hll
0% ir rsdeeraed October 1, 1993 and thereafter"'
4:
Agant
Lien
-1«
acratary, 3oard o: Regents xxxxx
Caairman, Board of Regents
44-20
21
COMPTROLLER'S REGISTRATION CERTIFICATE: REGISTER NO.
of the State of^s
^ th. Cooler of
thiS 3°nd has been examined, =e~
^^ '°V ^e Attorney General
Witness ray signature and seal this
jIj.c Accouacs of rhe
\f on
FORM OF IMTE^ CQWPON
MO.
ON
i THE 3OARD OF REGENTS OF
-^ on behalf of Stephei
to bearer hereof" the
|i
COMMERCI.H.
.na Sirr
of this obligation out of
taxation. Bond nS.
j Secretary, 3oard of Regents
*fn? . ^nt to demand paymen
S raX3ed Or to be rai3e* by
uiax.^i, J^fo-- Regents
Section 5. STUDENT- HOUSING SYSTEM Tsa^ *.hp p^^a^ •
in th. M.oiutlon .dops.d onLy'x9?""9« ^-Sr?"J "i''*™"
"»• " '0™ ■■»'- om
Tht rnff"1?11 5ld/or ownership of the facilities now comprising
the College s Housing System 196 2, being part of the Encumber-d
S 1fJ;v-les' "o-r^-: Dormitories Mos. 7, 9, 10, 12, 13, 14 15
and 16, Apartments Mos. 55 through 70 (16 student apar-ments)•
Apartments Mos. 200 through 299 (100 student apartments? «d'
Faculty Apartments Nos.l through 16 (16 apartments); together
with all additions and improvements thereto, and replacements'
tnereoc, nereafter constructed or acquired, sub3ect only to -he I
existing liens thereon to .secure the following outstanding bonds !
or Stepnen P. Austin State College: Housing System Revenue Bonds *
ot 1962, Series A, Series 3, and Series D, dated October 1, 1962-1
, fusing System Revenue Bonds of 1963, Series A, dated October- 1 !
ij l*bJ; and dousing System Revenue 3onds, Series 1964 dat^d " ' '
Octooer 1, 1964 (hereinafter sometimes collectively called -he
j 'dousing System 1962 Bonds"). *
''
jj (iii) A lien on and pledge of the net revenues derived from
tne operation and/or ownership of:
\ (a) Dormitory Mo. 1, Dormitory Mo. 2, Dormitory Mo 5
.1 Dormitory Mo. 6, Dormitory Mo. 3, Dormitory Mo. 11, Apartments ' I
f3' \^r?^h 54, Apartments Mos. 73 through 96, Apartments !
Nos. 127 through 166, and the Student Activity and Central j
Dining Hall 3uilding, together with all extensions, additions
and improvements thereto, and replacements thereof, hereaft—
constructed or acquired, without limitation as to rat- or ~~ '
amount, or a Student Activity Building Use Fee, subiect only i
«-o secure the outstanding Housing
;i (b) Dormitory Mo. 3, together with all additions and
j improvements thereto, and replacements the*-«of, he-«aft*r I
constructed or acquired, sub3ect only to the ^xist-ng i^ns
| tnereon to secure the outstanding Housing System 1962 3onds. !
|| That such liens and pledges ara hereby irrevocably created and I
i made according to the terms of.this Resolution, and the 3oa-d, j
.j its officers and employees, shall- execute, perform and carry out I
., the terms thereof in strict conformity with* the provisions of " !
': this Resolution. . u j
:! • I
;| _ Section 9. 3ONDS TO CONSTITUTE SPECIAL OBLIGATIONS. ^hat j
:| the 3onds, and the interest thereon, shall constitute special j
ij obligations of the 3oard, payable solely from the net revenues
if nerem pledged, and such obligations shall not constitute an
;. indebtedness of the State of Texas or Stephen F. Austin Stat*
University.
Section 10. COVENANTS WITH RESPECT TO ENCUMBERED•^ACILITT"S
EXISTING LIENS. The 3oard covenants and agrees, and in is*"
the intention of and required by this Resolution and the Resolu
tions heretofore adopted by the 3oard authorizing the issuance
or its bonds now outstanding against the Student Housing Sv37:3m
44-24
25
SFHir
Revenues") shall be deoosited to
^ 5^ t tne 1965 System 3ond and In"—*s- Siak-
.-Account and the 1965 Svst^m P^n^i- ar^ X V
principal and mcares: or refunded on * oar< tv vr-h an ™n^-
n°td "■ Stud"nt «oui"i1y«.-».aiil°°nC-theC°
llege'S Housi-^ 3^tem L962,
Corau-tO'V Mo. 9, Dormicorv Mo. 10,
Mo l\ ^oSiti^. f ^5°^ Mo- 13' Dorm to ry Mo. U, Dormitory
me^ts Nos Too Sroch 99 ^f^nt? Nos • 55 through 70, Apart-lfi
shall k- v-'-rogn Z3^'- and --acuity Apartments Mos. 1
throuah
all "tL^ lncor?orated ^to the Student Hoi S i
S
- g '- -ay lncor?orated ^to the Student Housing System
CaargS' inC0me and "venue derived from the
(b) After either of such occurence,
Apartments Nos. 127 through ^66 rh«
i
^ Revenue 3onds of 196 3, Serias A, dated
HiirSs^i . i
a 3tUdent Housin^ System, and all rentals,
- raTenUS dsriVed from che °P«"ion aAd/^
=acilities shall be pledged along with the
Avenues of the Student Housing Svstsm as a -"i-s- l
payMnt of tiie. Student Housing system 3ondl (th^'v^'
was removed from the Sncumbered ?aciliti.s bt-S
;o the is
Section 11. 1965 SYSTEM RE^/EMUE FUN D
44-25
26
(already established); that said 1965 Svstem Revenue *und Ac
count snail be held in the custody of the 3oard, seoarar- \rS
apart _.rom ail other funds, and shall be maintained" so long 'as
any or the Parity Bonds are outstanding in a bank which is a
memoer or the Federal Deposit Insurance Corporation; and that
all Current Expenses of the Student Housing Svstem snail be
Account ^ a flr3t Charge from the i965 System Revenue Fund.
^nr,JrtCtiOn 12' I965 3YSTSM 3OND AND INTEREST SINKING FUND
ACCOUNT. That concurrently with the delivery of the 3onds to
tne purcnasers, there shall be placed in the 1965 System 3ond
ana Interest sinking Fund Account (already established) , so much
oe the proceeds from the sale of the 3onds as represents accrued
interest paid thereon, and further, that the 3oard will, aft-r '
providing :or the payment of Current Expenses of the Student i
Housing System, transfer from the 1965 System Revenue Fund Ac- |
f°un^n!J}d other Pledged revenues and deposit to the credit of :
uhe 196o System Bond and Interest Sinking Fund Account, the i
following amounts in addition to the payments and deoosits othe—!
wise required to be made therein. " ~ j
(1) On_or before September 15, 1979, an amount of money
surncient to pay the interest to become due on th*
Bonds on October 1, 19 79;
(2) On or before March 15, 19 30, and on or before each
* succeeding September 15 and March 15, until the
Bonds are no longer outstanding, an amount of money
equal to the next maturing interest payment on the
Bonds;
(3) On or before March 15, 1980, and on or befor* each
September 15 and March 15 until the 3onds are no
longer outstanding, an amount of monev equal to
one-half of the next maturing principal oayment on
the Bonds; "
||
:| C4) On or before September 15, 1930, and on or before
;| each March 15 and September 15 thereafter, a sum of
«j money equal to one-eighth of the average annual debt j
S| service on the Bonds until a total of eight such '
Ij payments have been made, and thereafter, such sums !
! annually as may be necessarv to maintain the r^crired j
;j reserve on the Parity 3onds". !
i! ,rPnr4ftio^ 13.« 1965 3YSTEM REPAIR AMD REPLACEMENT RESERVE \
, ACCOUNT. That as soon as the additional reserve hereinabove
i providea -or has been established in the 1965 Svstem 3ond and
ji Interest Sinking Fund Account, the Board shall increase the :
:| annual deposits into the 1965 System Repair and Replacement " i
| Reserve Account, already established, by die sum of $9,000
annually, until the funds and/or investments therein shall ac- i
^Tn9?™ S400'000' ^d thereafter, such sums but not more tian* j
.40,000 annually as may be required to restore and maintain the
balance or 3400,000. The Board shall have the right to draw on
and use the monies in the 1965 System Repair and Replacement
Reserve Account :or the purpose of paying the cost of unusual !
or extraordinary maintenance or repairs, renewals or replacements1,
ana tne renovating or replacement of the furniture and -auipmen* «
not paia as part of the ordinary and normal expense of -he ~ I
otudent Housing System operations; provided, however, that in "he>
event the zunds and investments in the 1965 System 3ond and ^r-terest
Sinking Fund Account shall b dd
d ever be reduced below th* ~*~
quired debt service reserve, f'jnds on deposit in the 13gT 3ys^
Repair and Replacement Reserve Account shall be t^r.s-^r-^ ^o"
tne I96o System Bond and Interest Sinking Fund Account -o^ie
extent required to eliminate the deficiency in that Account:.
3
44-26
27 |
i
I
i
Section 14. (jse OF SURPLUS FUNDS. The money in the 196 5 ■
aystem Revenue Fund Account at -he close of each school t«rm '
in excess of sums needed for the payment of Currant Expenses ;
or the otudent Housing System and for all oayments and'deoosits •
required to be made into the 19 65 System 3ond and Int-r-st >
Sinking Fund Account and the 1965 System Repair and Replacement i
Reserve Account may be used by the 3oard for: 1
(1) The redemption of outstanding Parity 3onds on the n«-
interest payment data, in accordance with the call provisions""* >:
or tne respective bond series, and in amounts of not less r-han
$o,000 par value at one time; or
'i
_ (2) Any expenditures, including the payment of debt ser-vice
m_ improving or restoring any existing housing and dining
. racilitias or providing any such additional facilities; or I
1 !
;j (3) Any lawful purpose. I
'! mu r,Secjtion 15' ISSUANCE OF ADDITIONAL PARITY REVENUE 3ONDS
! T^.3oard reserves and shall have the right to issue one or more !
additional series oz bonds, not withstanding the provisions o^
I tne bond resolution that authorized the outstanding Student !
:; tiousmg System 3onds, to finance the construction or acquisition '
■| or additional housing, dining and related auxiliarv facili^es !
jj or to reiund indebtedness previously incurred to finance the
:j construction or acquisiton of such additional facilities, -o be
ij secured by a parity lien on and rat ably payable from the revenues
j pledged to the Parity Bonds, provided in each instance that:
!|
.j (a) The Board is then in full compliance with all covenants!
;! and undertakings in connection with all of its Parity Bonds then j
'I outstanding and payable from the revenues of the Student Housing ■'
1 System or any part thraof; 1
(b) The revenues of the facility or facilities to be built !
or rinanced from the proceeds of the Additional Bonds, and other i
revenues added as security, if any, for the Additional 3onds, j
are pledged as additional security for the Additional Bonds and !
tne Parity 3onds. Notwithstanding the foregoing, the 3oard may
issue Additional Bonds to finance the construction of additions
to facilities of the University which were constructed or under j
construction at the time the Series 1979~3cnds are issued, I
provided that the revenues derived from such addition or addi- i
tions are pledged directly or indirectly (first lien or sub- !
ordinate lien) as additional security for all bonds outstanding ■
against the Student Housing System and provisions are made for :
the. ultimate inclusion of the facilities into the Student Housing1
System as soon as the related prior liens have been eliminated. ;
(c) The annual Met Revenues, defined as gross revenues >ss;
Current Expenses of the Established System, plus Other Pledged !
Revenues, if any, for the fiscal year next preceding the issuance!
o£ the Additional 3onds are certified by an independent (certi-fied^
or licensed) public accountant, employed bv the 3oard or by
the State 'Auditor of Texas, to have been equal to at least one !
and twenty-five hundredths (1.25) tines the combined average |
annual requirements for principal and interest on ail bonds |
outstanding against the Student Housing System which were issued •
to construct or acquire the Established System; and >
_ _ (d) The estimated pledged revenues of the facility or !
racilities to be constructed or financed with the proceeds of |
such Additional 3onds, when added to the estimated" annual Met !
Revenues of the Student Housing System, including facilities ■
under construction, plus Other Pledged Revenues/if any/sha1! I
10
44-2 7
28
equal at least one and twenty-five hundredths (1.25) "'mes "-e
combined average annual debt service requirements -"orT-ncipal
and interest on the Parity 3onds and on "the Additional*Sends
authorized or then to be issued.. Computation of the future
Net Revenues of the then existing Student Housing System, to-gether
with the facilities to be financed with the proceeds of
the Additional 3onds and other pledged revenues, shall be based
on actual net income for the fiscal year next preceding th*
issuance-, of the Additional 3onds, as may be adjusted, to reflect
the_schedule of rates and charges to become effective when"the
additional facilities become revenue-producing but excluding
revenues derived from over-occupancy In relation to designed
capacity, and after giving recognition to anticipated chances
in Current Expenses of the Student Housing System. Computation
of the estimated Net Revenues of the-facility of facilities under
construction or to be constructed or acquired shall be predicat
ed upon.an assumed utilization rate of not more than 90%. The
computation of estimates shall be made by the Chief Financial"
Officer of the University and shall be approved by the President
of the University and by the Board of Regents. j
The term "average annual debt service" as of any date shall mean, i
zor each series of 3onds, the aggregate of all future principal '•
and interest.to become due on the bonds of such series in ail i
years in which principal is to mature in accordance with the '
scheduled maturities thereof, divided by the number of such yearsj
The term "combined average annual debt service" shall mean the !
aggregate of the average annual debt service for each separate '
series.
Section 16. USE OF MONEY IN L965 SYSTEM 3OND AND INTEREST
AND SINKING FUND ACCOUNT; OTHER'COVENANTS WITH RESPECT TO
ISSUANCE OF ADDITIONAL BONDS. The money in the 1965 System 3ond
and Interest and Sinking Fund Account shall be used solev for
the payment of principal of and interest on the Parity Bonds"
and on all subsequently issued Additional Bonds secured equally
with the Parity Bonds, as to which there would be a default if
the money were not so used.
The Board covenants and agrees that in the event Additional Bonds
are issued on a parity with the 3onds, as provided in -this Reso- i
lution, the 3ond Resolution authorizing such Additional Bonds !
shall provide: i
(a) For an identical Flow of Funds as prescribed in the
Resolution authorizing the issuance of the Parity 3onds~and* tha- .
all revenues deposited in the special funds and accounts already ;
established be commingled. j
i
(b) For payments of principal of such Additional 3onds on :
October 1st of the appropriate year Or years and for' pavrr.ent of :
interest on such bonds on April 1st and October 1st of each year; ;
(c) For an increase in the debt service reserve of not less :
than the average annual debt service requirements of such Addi- '
tional 3onds, either by depositing into * the 1965 System Bond and j
Interest and Sinking Fund Account in cash .at the time of the de-livery
or" such Additional 3onds, as an additional reserve, such I
sums equal to not less than the average annual debt~service re- :
quirements of the Additional 3onds/ or to be accumulated in not :
less than that amount in four equal annual payments, beginning '
at the end-of the first school year in which the■University has !
had use of the additional facilities. It is agreed and understood
that the maximum required debt service reserve for ail 3onds out- ;
standing against the Student Housing System shall be an anount i
equal to the sum total of the average annual debt service of each'
individual issue of outstanding bonds. :
11
44-28
29
(d) That as soon as the required additional reserve is :
accumulated, the amount required to be decosited annualiv into
tne 1955 System Repair and Replacement Reserve shall be increased
by 10% of the estimated cost of the rrcvabie equipment and fur
nishing installed m the additional facilities so constructed or
acquired with the proceeds from.-he Additional 3onds, and that
the accumulated total shall be increased by lOO'h of said esti
mated cost and in addition provide for a reasonable reserve for
extraordinary maintenance or repairs.
The 3oard covenants and.agrees to increase the annual deposits
into the 1365 Repair and Replacement Reserve Account, above and ;
beyond those which are required by the Resolutions authorizing j
the Parity 3onds,.when facilities are added to the Student I
Housing System independent of, or not connected with, the issu- '
ance of Additional 3onds, Notwithstanding the foregoing, it is!
agreed and understood that the required sum total of all deposits
into the 1965 System 3ond and Interest and Sinking Fund Account!
and the 1965 Repair and Replacement Reserve Account shall not !
exceed an amount equal to 1.25 times the sum total of the average
annual debt service (as defined in Section 16 of all outstandinc
Student Housing System Bonds. ~\
The 3oard covenants and agrees that so long as any of the Bonds'
are outstanding and unpaid, either as to principal or interest, .
Lt, wiil not i3SU8' except as provided in this Resolution, anv i
additional obligations payable from the revenues of the Student'
Housing System and/or Encumbered Facilities unless the lien of •
such obligations payable from such revenues is made junior and i
subordinate in all respects to the lien of the 3onds. j
i
Section 17. PRIOR REDEMPTION OF 3ONDS. The 3oard further'
covenants and agrees that if in any subsequently issued series !
of 3onds secured by a parity lien on the revenues of the Student
Housing System, it is provided that excess revenues in the 1965!
System Revenue Fund Account shall be used to redeem bonds in :
advance of scheduled maturity, or if the Soard at its option
undertakes to redeem outstandinc 3onds in advance of scheduled !
maturity, that (a) calls of 3onds will be applied to each series
of outstanding 3onds on an approximate equal" pro rata basis re-:
fleeting the proportion of the original amount of each series o-
3onds outstanding at the time of such call, and (b) caUs of
p s, any or all outstanding 3onds
wmch may be caiied at par plus accrued interest orior to caii-ng
3onds that are callable at a premium.
Section 13. CONDITIONS 0"MDSR WHICH STUDENT HOUSING SYSTEM
FACILITIES MAY 3E SOLD OR OTHERWISE DISPOSED OF 3Y THE 3OARD.
The Bd d
pse of any of the Sudn
Housing System facilities, or any part thereof, and, except as I
proviaed for in this Resolution, it will not create or permit to
be created any charge or lien on the revenues ther^o- rank;nc
equal or prior to the charge of lien of the 3onds. Motwithstand-mg
tne zoregoing, the 3oard may at any time permanently abandon
the use of, or sell at fair market value, any" of its Student
mousing System facilities, provided that: j
(a) It is m full compliance with all covenants and 'under
takings in connection with all of its bonds outstanding * and
payable from the revenues of the Student Housing System or anv •■
part thereof; ' \
12
44-29
30
(b) It will, in the event of sale, apply the proceeds to j
either (1) redemption of outstanding Bonds" in accordance with '.
the provisions governing prepayment of 3oncs in advance of
maturity, or (2) replacement of the facility so disposed of bv
anotner raciiity which shall oe incorporated into the Student'
mousing System. . . i
_(c) It certifies, prior to any abandonment of use, chac i
the facility to be abandoned is no longer economically feasible j
of producing Met Revenues; and
(d) It certifies that the estimated Net Revenues of the
remaining Student Housing System for the then succeeding fiscal
year (and any other revenues pledged as security) plus the es
timated Net Revenues of the facility, if any, to be added to the
Student Housing System satisfy the earnings test hereinbefore
provided in this Resolution governing the issuance of Additional
Bonds,
Section 19. CONDITIONS UNDER WHICH CERTAIN OF THE ENCUMBER-!
■I ED FACILITIES MAY BE DISPOSED OF BY THE BOARD. It is hereby !
■; agreed and understood, and it is so provided in the Resolutions !
■| of the 3oard authorizing the issuance of the bonds now outstand- !
j ing against the Student Housing System, tha~ the 3oard reserves '
■j and shall have the right to dismantle Dormitory No. 4 , and Dorm
itory No. 6, which right has already been exercised, and Apart
ments Nos. 127 through 156, to provide a site or sites for any
other University purposes, providing that such dismantling does
not violate any prevailing covenants of the Board and that the
remaining pledged revenues will be sufficient to allow the Board
to meet all of the obligations pertaining to the Student Housing
System Bonds as set forth in this Resolution.
Section .20. SECURITY FOR FUNDS; INVESTMENT OF FUNDS. The
money in all Funds and .Accounts established and to be maintained |
for the benefit of the Student Housing System Bonds shall be i
secured by the pledge of direct obligations of, or obligations j
unconditionally guaranteed by, the United States Government, in |
a principal amount at all times not less than the amount of money!
credited to such Funds and Accounts, respectively. j
The 1965 System 3ond and Interest and Sinking Fund Account and J
the 196 5 System Repair and Replacement Reserve Account shall be !
kept on deposit in the Commercial National Bank in Nacogdoches, |
Nacogdoches, Texas. Funds on deposit to the credit of the 1965 j
System Bond'and Interest Sinking Fund Account consti-uting the ;
reserve for debt service, and funds oh deposit to the credit of '
tlie 1965 System Repair and Replacement Reserve Account, may, at !
the option of the 3oard, be invested in direct obligations of, i
or obligations the principal of and the interest on which are j
guaranteed by the United States Government. The investments of i
such funds shall be valued in terms of current market value as
of June 30 and December 31 of each year. Such obligations shall
be held subject to the same lien as the moneys with which they
were purchased, and shall be sold when so ordered by the 3oard,
and the 3oard shall in all events order such sale when necessary
to prevent any default in connection with 'the Student Housing "* "
System 3onds. All moneys collected on such sales or at maturity
shall be deposited in the Fund or Account with which such obli-
| gations wera purchased. If a loss be incurred on any sale, tha
:j Board covenants to deposit immediately ir.no the appropriate Fund
•! or Account moneys available therefor sufficient to*o-fse•■«- v^wj.j.w^s_ uu4.xuj.;i^ -rvs/ssiiutr -
(c) the computation of estimates made by the Chi*f ■ ,
nnancial Officer of Stephen F. Austin State University and ao- !
proved by the President of the University shows that zh* -stiinat-1
ed pledged revenues of the Project, when added to the estimat-d i
annual Net Revenues of the Student Housing Svstam, including '
racilities under construction, plus Other Pledged■Revenues wii1 I
equal at least one and twenty-five hundredths (1.25) tines -he !
coirx)ined average annual debt service requirements for orincioal !
and interest on the Stephen F. Austin State College Building
Revenue Bonds of 1965, Series "A",and Series •'B'/ ^da ted October I
:U- ; Stepnen F. Austin State College Student Housing j
oysv.em Revenue 3onds of 1967, dated April 1, 1967, the Stephen I
iQGAUS^r? ^Tt9 C?i:Lf2? Student Housing System Revenue Bonds of j
-.b>6d, dated June 1, 1968, and the 3onds herein authorized, and
such estimate is hereby approved by the 3oard
19
44-36
37
79-73
Upon motion of Regent Todd, seconded by Regent Samuel, with all members
voting aye, it was ordered that the University be authorized to sell the
$5,500,000 Stephen F. Austin State University Combined Fee Revenue Bonds,
Series 1979 to the lowest qualified bidder, Cullen Center Bank g Trust,
Houston, Texas, and Associates, and that the Chairman of the Board be
authorized to sign the documents related to the bond issue, as prepared by
Messrs. McCall, Parkhurst, and Horton with the assistance of Russ
Securities Corporation.
44-37
38
CERTIFICATE FOR
RESOLUTION AUTHORIZING THE ISSUANCE OF BOARD OF REGENTS OF
STEPHEN F. AUSTIN 5TATE UNIVERSITY COMBINED FEE REVENUE 3ONQS,
SERIES 1979, 35,500,000
THE STATS OF TEXAS
COUNTY OF NACOGDOCHES !
STEPHEN F. AUSTIN STATE UNIVERSITY ':
We, the undersigned officers of the 3oard of Regents of
said University, hereby certify as follows:
i . Tne Board or Regents of said University convened in
MEETING ON THE 19TK DAY OF APRIL, 1979, at the regular
designated meeding place, and the roll was called of the duly
constituted officers and members of said 3oard, to-wit:
Homer Bryce, Chairman James I. Perkins
Ernest Powers, Vice Chairman R. E. Samuel, Jr.
Mrs. George Cullum, Jr. Walter C. Todd
Joe Bob Golden Mrs. Tom Wright
Glenn Justice
Charles G. Haas, Secretary
and all of said persons were present, except the following
absentees : C u j\ p^ "
thus constituting a quorum?' Whereupon, among other business,
tne following was transacted at said Meeting: a written
RESOLUTION AUTHORIZING ISSUANCE OF COMBINED FES.REVENUE 3ONDS
was duly introduced for the consideration of said 3oard and -«ad
in full. It was then duly moved and seconded that said Resolu
tion be adopted; and, after due discussion, said motion, carrying
^ r1^ adoption of said Resolution, prevailed and car-ied by
tne following vote:
AYES: All members of said Board shown present :
above voted "Aye".
NOES: None.
2. That a true, full, and correct copy of the aforesaid
Resolution adopted at the Meeting described in the above and
roregoing paragraph is attached to .and follows th«s Certificate-tnat
said Resolution has been duly recorded in said Board's
minutes of said Meeting; that the above and foregoing parag-aph
is a true, lull, and correct excerpt from said 3oard•s"minutes
of said Meeting pertaining to the adoption of said Resolution;
tnat the persons named in the above and foregoing paragraph a>-*
zhe duly chosen, qualified, and acting officers and -embeds of"
said 3oard as indicated therein; thac each'of the officers ard
memoers of said 3oard was duly and sufficiently notified offi
cially and personally, in advance, of the time" place,""and
purpose of.the aforesaid Meeting, and that said Resolution would
be introduced and considered for adoption at said Meeting, and
each or said officers and members consented, in advance, "o the
holding of said Meeting for such purpose; and that said Meeting
was open to the public, and public notice of the time, place,
and purpose of said meeting was given, all as reauired by
Vemon's Ann. Civ. St. Article 6252-17.
SIGNED AND SEALED the 19th day of April, 1979.
secretary, Board of Regents Chairman, 3oard of Regents
SEAL
44-38
39
RESOLUTION
AUTHORIZING THE ISSUANCE OF 3OARD OF REC-N^S O7
STEPHEN F, AUSTIN ST.^TE r^ITTrER^-*v CQ vgr^ ^ 7-,1
REVENUE 3OMDS. 5ZRIZ3 -.979. 33^300,000 ~* " ' ""
^ WHEREAS, the 3oard of Regents of Stephen F, Austin Stat*
university is authorized to issue bonds in accordance with
chapter 55 or the Texas education Code; and
'.-'"HEREAS, it is heraby officially found and determined-a
case of emergency or urgent public necessity exists'
wnicn requires the holding of the meeting at which' this
Resolution is adopcaa,■such emergency or urgent public nec«s- '
sity oemg that che proceeds from the sale of the proposed !
bonds are required as soon as possible and without*delay i
for necessary and urgently needed public improvements; and I
that^ said meeting was open to the public, and public notice j
or tne time, place, and purpose of said meeting was cn'ven
all as required by Vemon's Ann. Civ, St. Article 6252-17'. '.
i
THEREFORE, 3E IT RESOLVED 3Y THE BOARD OF REGENTS OF '
| 3TEPHEIT F. AUSTIN STATE UNIVERSITY:
i
: Section L. That said Soard's negotiable, serial coupon •
•I oonds, to be designated as 30ARD OF REGENTS OF STEPHEN F AUSTIN ■
:| STATE UNIVERSITY COMBINED FEE REVENUE BONDS, SERIES 1979 herein-1
] a.ter sometimes called "Series 1979 Bonds" or "3onds" ar« ■ ' ;
j ciereby authorized to be issued and delivered in the orincioal I
j amount or $5,500,000, for the purpose of providing funds to pur- \
,| chase land, improve existing facilities, and construct and I
!; equip buildings, structures, and facilities, for and on behalf !
: of the University on its cacpus at Nacogdoches, Texas to-*nf !
addiuions, improvements and renovations to University'Center.' ;
!
Section 2. That the 3onds shall be datedFebruary L, 1979, |
:; shall be numbered consecutively from 1 through 1100, shall be in' j
; the denomination of $5,000 each, and shall become due ard oay- I
j able serially on August 1 in each of the years, and in the' !
j amounts, respectively,.as set forth in the following schedule- !
YEARS
1930
1981
1932
1983
1934
1935
1986
1987
1988
19 89
1990
1991
AMOUNTS
S 90,000
105,000
110,000
115,000
120,000
130,000
140,000
150,000
15 5,000
170,000
175,000
190,000
YEARS AMOUNTS
$200,000
210,000
225,000
235,000
250,000
265,000
235,000
355,000
380,000
405,000
520,000
520,000
Section 3. That the Bonds scheduled to matur* durin^ th«
years respectively, set forth below shall bear interest at
trie following rates per annum:
maturities 1980 through 1989, 7.00"
maturity 1990 6 n5T'
maturities 1991 through 199^, 5.50?
maturities 1995 through 1997 \ 5.707,
maturities 1998 through 2000, 6.007,
maturities 2001 through 2003, 6.25%
44-39
40 :
Said interest shall be evidenced by interest coupons which shall1
appertain to said bonds, and which shall be payable in the * * ■
manner provided and on the dares sea cad in the FOR21 OF 3OND
sec forth in this Resolution,
Section 4, That said 3onds and interest coupons shall
be issued, shall be payable, may be redeemed prior to their
scheduled maturities, shall have the characteristics, and
snail be signed and executed (and said bonds shall be sealed),
all as provided, and in the manner indicated, in the FORM
OF BOND sec forth in this RESOLUTION, ■ * I
Section 5. That the form of. said 3onds, including the i
fora of Registration Certificate of the Comptroller of Public :
Accounts of the State of Texas to be imprinted and endorsed j
on each of said bonds, and the.form of the aforesaid interest !
coupons which shall appertain and be attached initially to !
each of said bonds, shall be, respectively, substantially '
as follows: * ' !
j
| FORM OF BOND i
1 N0' 35,000. ■
i UNITED STATES OF AFRICA ;
I STATS OF TEXAS ■ i
! BOARD OF REGENTS OF ' j
STEPHEN F. AUSTIN STATE UNIVERSITY :
COMBINED FEE REVENUE 30MD
SERIES 19 79
ON AUGUST 1, 19_, THE BOARD OF REGENTS OF STEPHEN F
AUSTIN STATE UNIVERSITY, for and on behalf of Stephen F. Austin !
State University, promises to pay to bearer hereof the principal'
amount of k ' j
i
FIVE THOUSAND DOLLARS |
: and to pay interest thereon, from date hereof, at the rate '
°f ?o Per annum, evidenced by interest coupons payable •
August 1, 1979, and semi-annually thereafter vhile this bond )
is outstanding. |
THE PRINCIPAL of this bond and the interest coupons
, appertaining hereto shall be payable to bearer, in lawful coney ■
i or the United States of America, without exchange or collection
• charges to the bearer, upon presentation and surrender of this
j bond or proper interest coupon, at the following, which shall ;
I constitute and be defined as 'the."Paying Agent" for this Series ■
of Bonds : I
COMMERCIAL NATIONAL BANK, MACOGDOCHES, TEXAS
OR AT THE OPTION OF THE HOLDER, AT THE CHASE
MANHATTAN BAiftC, N. A., NEW YORK, NEW YORK i
THIS 3OND is one of a Series of negotiable, serial, coupon ;
bonds dated February 1, 19 79/ issued in the principal amount'of •
| 35,500,000, for the purpose of providing funds to purchase land, j
! improve existing facilities and construct and equip buildings, j
j structures and facilities, for and on behalf of'the University
j on its campus at Nacogdoches, Texas, to-wit: additions, improve-1
| aents and renovations to University Center. i
44-40
41
, :.S:T.- -_ ,_-ad nacun^ias, ac t.ie opcion "
for redenpcion as follows:
i ,,h -t redesmed Augusc 1, 1933 through Febmarv 1 1990
1-1/2. «_ raaeemea Augusc L, 1990 through Fefarufr^ 1 {o"
1/27 of 17 H raQeemed August 1, 1991 through February i 199
7 /o °f Ji h ^eeme^ Au3usc L' "92 through Fabrutrv £' 1993
0/. i. redeemed Augusc 1, 199 3 and thereafter
w
F. Austin Scaci c"S4 sSui^'fui?^ ^"T C°ll-SM SCe?
1968, dated June 1 1963 "Ser'eJ 6 3^! "SVenUe 3°ndS of
iiiiftiiil
THE HOLDER HE3S0F shall never have r^ -<
44-41
42
III WITNESS WHEREOF, this bond and the interest: coupons
appertaining hereto have been signed with -he facsimile signa
ture of the Chairman, of said Board and countersigned v;ith the
facsimile signature of ere Secretary- of said Board, and the
official seal of said Board has been duly impressed, or placed
in facsimile. on this bond,
xxxxx xxx:ct
Secretary, Board of Regents Chairman, Board of Regents
FORM OF REGISTRATION CERTIFICATE: \
COMPTROLLER'S REGISTRATION CERTIFICATE: REGISTER NO. !
I hereby certify that this bond has been examined, certified:
as to validity, and approved by the Attorney General of the
State of Texas, and that this bond has been registered by the
Comptroller of Public Accounts of the State of Texas,
Witness my signature and seal this
xxxxxx
Comptroller of Public Accounts
of the State of Texas
FORK OF INTEREST COUPON: ;
NO. • $ :
ON , :
THE BOARD' OF REGENTS OF STEPHEN F, AUSTIN STATE UNIVERSITY, for
and on behalf of Stephen F. Austin State University, promises
to pay to bearer the amount shown on this interest coupon, in
lawful money of the United States of America, without exchange
or collection charges to the bearer, unless due provision has
been made for the redemption prior to scheduled maturity of
the bond to which this interest coupon appertains, upon
presentation and surrender of this interest coupon, at the
COMMERCIAL NATIONAL BANK, MACOGDOCHES, TEXAS, OR AT THE OPTION
OF THE HOLDER, AT THE CHASE MANHATTAN BANK, N.A., NEW YORK, " .
NEW YORK, said amount being interest coming due that day on
the bond, bearing the number hereinafter designated, of that
issue of the 30ARD OF REGENTS OF STEPHEN F. AUSTIN STATE
UNIVERSITY COM3INED FEE REVENUE BONDS, SERIES 1979, dated
February 1, 1979. The holder hereof shall never have the right
to demand payment of this obligation out of any funds raised or
to be raised by taxation. Bond No. .
x:cccc xxxxx
Secretary, Board of Regents Chairman, Board of Regents
Section 6. That throughout this Resolution, the following
terms as used herein shall have the meanings set forth below,
unless the text hereof specifically indicates otherwise:
The term "Additional 3onds" shall mean the additional
parity revenue bonds permitted to be authorized in this
Resolution.
44-42
43
The term "Board" shall mean the Board of Regents of
Stephen F, Austin State University.-
The term "Bonds" shall mean collectively the Board of
Regents of Stephen F. Austin Staca University General Fee
Revenue 3onds, Series 1972, authorized by Resolution of the
Board.on March 7, 1972, "Series 1972 3onds", the Board of
Regents of Stephen F. Austin State University General Fee
Revenue Bonds, Series 1973, authorized by Resolution of the
Board on March 27, 1973, "Series 1973 3onds", the Board of
Regents of Stephen F. Austin State University General Feee
Revenue Bonds, Series 1977, authorized by Resolution of the
Board- on November 4, 1977, and the 3oard'of Regents • of Stephen
F. Austin State University Combined Fee Revenue Bonds, Series
1979, authorized by this Resolution. ;
The term "Building Use Fee" shall mean the gross collections
of the building use fee to be fixed, charged and collected from
all tuition paying students regularly enrolled at the University,
out of and as a part of the regular student tuition fees of the
University, in the manner and to the extent provided in this
Resolution and the Resolution which authorized the outstanding
Series 1963 Bonds, and pledged to the payment of the Series
1968 Bonds and being only available for the payment of the
Bonds and Additional Bonds after the Series 1963 Bonds are no
longer outstanding or unpaid, as authorized by Chapter 55 of
the Texas Education Code. (This definition was restated due
to Chapter 55 of the Texas Education Code superseding Art.
2654c-l and Art. 2909c-3, V.A.T.C.S. * j
The term "General Fee" shall mean the gross collections of
the general fee fixed, charged, and collected from all students
(excepting any category of students now exempt from paying fees
by Chapter 54 of the Education Code) regularly enrolled in the
University, for the use and availability of the University, in' :
the manner and to the extent provided in this Resolution, and as '
authorized by Chapter 55 of the Texas Education Code.
The term "Outstanding", when used with reference to Bonds '
or Additional Bonds, and as of a particular date, or tine, shall;
mean all Bonds and Additional 3onds theretofore issued and not :
cancelled except Bonds or Additional 3onds for the payment or
redemption of which cash or federal securities (direct obliga
tions of the United States government) equivalent to cash, equal
to the principal, amount thereof or redemption price thereof, or
with interest to date of maturity or .redemption date, shall be
held by the Paying Agent therefor, provided that if such 3onds
or Additional Bonds are to be redeemed prior to date of maturity,
notice of redemption shall have been given as provided in the
resolution or resolutions authorizing such Bonds or Additional
Bonds.
The term "Pledged Revenues" shall mean collectively, the
General Fee and annual interest grants received from the United
States, Department of Health, Education and Welfare, in connec
tion with the 30nds', together with a lien on and pledge of
certain student tuition fees, designated as the "Building Use
Fee", which, lien and pledge is junior and subordinate to that
for the outstanding 3oard of Regents State Senior Collage
Student Tuition Fee Revenue Bonds of 1963, dated June 1, 1963,
"Series 1963 Bonds", or any bonds issued to refund such Series
1968 3onds, which lien and pledge of said Building Use Fee is
only available after the Series 1968 Bonds are no lloonnggee:r "out-igs
res
any monies credited to any
standing" or "unpaid", and other investment earnings resulting
from the deposit or investment of «
44-43
44
r-d ?urSUanC C° :he ^solution that au-n
s , togeche-r wmh ar>v addi income, receipts, or other resources^ includi
! The tern "University" shall aiean cha Scaohen F Austin State
: University, formerly known as Stephen F. Austin State College
; Section 7. (a) That the Board, of Regents of Steohen F '
, Austin State University Combined Fee Revenue Bonds, Se-ies 1979 :
authorized by this Resolution are "Additional Bonds" as oerait-ued
oy Sections 22, 23 and 24 of the .Resolution that author-ad
the issuance of the Series 1972 Bonds, and it is herebv de-e-mined,
declared and resolved that all of the Bonds are'and shall
stall , T ?a7^le eqUaLl7 and raCab1'-' on a P«i«7, and tSat Sections 8 through 25 of this Resolution are suuolemental cunu-
\7»7^°\Se""?!,? Chr°Ugh 25 of Che ^solution that author- !
«ad che Series 1972 Bonds, with said sections being equally
applicable to all of the bonds, except as modified hereby. \
!
(b) That the Bonds and any Additional Bonds, and the '
interest thereon, are and shall be secured by and payable from ■
an irrevocable first lien on and pledge of the Pledged Revenues.
Section 8. That the Bonds and any Additional Bonds and '
interest coupons appertaining thereto shall constitute soecial ■'
ooligations of the Board, payable solely from the Pledged
Revenues,.and such obligations shall not constitute a orohibit-ed
indebtedness of the University, the Board, or the State 0*
Texas, and the holders of the Bonds and Additional Bonds and"
the coupons attached thereto shall never have the r^h^ -0
demand payment out of funds raised or to be raised by taxation.
Section.9. (a) That the 3oard covenants and agrees to fix
levy, charge, and collect the General Fee from all students
^excepting any category of students now exempt from paying fees
6y Chapter :>4 or the "Education Code) regularly enrolled in the' '
University at each regular fall and spring semester and at each
term or eacn summer session, for the general use and availability
of the University, in such amounts, without any limitation what
soever, as wxll be at least sufficient at all times to orovide
together with other Pledged Revenues, the money for making all'
deposits required to be made to the credit of the Interest and
Sinking Fund and Reserve Fund in connection with the 3onds and
any Additional 3onds.
(b) That it is hereby resolved, declared, and confirmed
that, commencing and effective with the regular 19 77 fall
semester of the University, the General Fee has been and is
hereby fixed and levied, and was and shall be charged and
collected at the rates as follows:
44-44
45
Per Regular Semes car
Fall and Spring
Per Sumner Session Term
Semester Credit
Hours Enrolled
1
2
3
4
5
' 6
7.
8
9
10
11
12 or more
Per Student
General Fee
4,74
9,48
14,22
17.38
20,54
22.91
26.07
28.44
31.60
33.97
37.13
39.50
Semester Credit
Hours Enrolled
1
2
3
L
5
6 or more
Per Student
General Fee
,74
,48
11.35
14.22
16.59
19.75
>by
-ate of
regular semester and summer
session for each regularly enrolled student with such fee not
to exceed $77.55 per regularly enrolled student per regular"
semester or summer session.
and levied and shall be charged and collected at the
$5.17 per semester credit hour per regular semester
f
(d) That the General Fee shall be increased if and when
required by this Section, and may be decreased, so long as all
Pledged Revenues are sufficient to provide the money for making
all deposits required to be made to the credit of the Interest
and Sinking Fund and Reserve Fund in connection with the Bonds
and any Additional Bonds. All such changes in the General.Fee
shall be made by resolution of the Board, but such procedure
shall not constitute or be regarded as an amendment of this
Resolution, but merely the carrying out of the provisions hereof.
(e) That it is specifically found and determined by the
Board that the Series 1979 Bonds are issued pursuant to Section
55.17 of the Education Code, to be secured by a pledge of an
unlimited use fee (the General Fee), and that (1) the estimated
maximum amount per semester hour of the pledged General Fee
(based on current enrollment and conditions) during any fucure
semester to provide for the payment of che principal of and
interest on the Series 19 79 Bonds when due, together with (2)
the aggregate amount of all use fees levied on a semester hour
basis for the coming fall semester of 1979 to pay the principal
of and interest on all previously issued bonds* do not exceed
$6.00 per semester hour; and it is hereby further found and de- :
Carained that Che aggregate of all use fees levied on a semester
hour basis for the coming fall semester is not more than $6.00
per semester hour, which amount includes the aforesaid pledged
General Fee in the amount of not more than $5.17 per semester
hour as cf the 19 79 fall semester, which is more than sufficient
(based on current enrollment and conditions) to provide, for the
current semester and each fucure semester, for the payment of
che principal of and interest on all of the Bonds, including the
Series 1979 Bonds. . 3 ■ ■
44-45
46
(a) 55.00 from each enrolled student for each
regular semes Car; . .
• (b) $2.50 from each enrolled student for each '
■ ■ ■ ■ summer term; . : .. . . i
I cSllecri5uildin? USe Fae sha11 be so levied, charged, and I !, collected m snch «Mmf,. 30 long as any Bonds or Additional '
;! m
and maintain in good condition,. and ac a raasonabla cose '-he
University and chs facilities ana sen/ices thereof, so Ion-'as
any Bonds or Additional Bonds are outstanding.
(f) That while the Bonds or any Additional 3onds are
outstanding and unpaid, the Board shall not additionally encumber
the Pledged Revenues in any manner, except as permitted in this
.Resolution in connection with Additional'Bonds', unless said en
cumbrance is made junior and subordinate in all respects to the
jiiens, pledges, covenants, and agreements of this Resolution.
u- u JP, Pr°Per books of record and account will be kept
,in which full, true, and correct.entries will be made of all ' !
{dealings, activities, and transactions relating to the Pledged !
.Revenues, and all books, documents, and vouchers relating thereto !
shall at all reasonable times be made available for insoection i
upon request of any bond holder. ' |
■ . . _ ,(h) Thac each ym* while~^n7*of the~7onds or Add- '
:tional Bonds are outstanding, an audit, will be made of < .-3 books :
:and accounts relating to the Pledged Revenues bv rhe State !
.Auditor or the State of Texas, or any certified nublic accoun- |
; ant such auait to be based on the fiscal year of the UnivSty
As soon as practicable after the close of each such fiscal vear '
and wnen said audit has been completed and nade availlb % ' I
i J,0^' a1c°P'^ of su=h audit for the preceding fiscal ve*a-j
shall be mailed to all bondholders who shall so request in wri-- |
ing Such annual audit renorts shall be ooen to the inspection l
1°;S ^ ^ W" d ~P-entatives L all"
Board covenants that it will not permit
t£is%fen?S1 rediC °°ff y °ff Ch e ??undds createdPb 7 jthis Resolution or applied to the payment of the princioal of
interesu on the Bonds or any Additional Bonds, ar.v oroc^ds
niSanCA 3ubsld'/' ^nation, or income received fronTche
States Government, whether pursuant to agreement or
^otherwise, ir such deposit or aoplication would" resul- -n
;:interest payable on the Bonds or Additional Bonds bein^ Includ-
;^r'm " " ^^ ^ °T°SS inC°me f°r FedaraL inc^ tax
■!-n nr -u (j) Thacjche Board covenants that it *all cotnnl/ with
.all o. une terras and conditions of any and all ^ant or subsidy
.agreements applicable to the Bonds or Additional ^ds en? red'
g r^.Ten C-1S B°ard and my governmental agency in connec-
In ^y SranC °r debC ser^cs s^sidy; and the Board will
all action necessary to enforce said tarns and conditions.
25-' Thac aicher che Chairman or the Vice-chairman
Sf rffH " ^Rf?CS is hereby, authorised to have control
>°L - /* ^ aU neces3a^ records and proceeding oertain-
;ing o said 3onds pending their delivery and their inves ti^ti on
examination, and approval by the Attorney General of tbe State
or Texas, and their registration by the Controller of Public
Accounts ot the State of Texas. Uoon registration of saM
•bonds, saia Comptroller of Public Accounts (or a deputy des-
'J^lt L? urxc-*f r-° ac^ =or said Comptroller) shail manually
a-sn the Lompcroller's Registration Certificate orinted and
encorsed on each of said Bonds, and the seal of said Comotroller
»nall oe impressed, or placed in facsimile, on each of said
bonds.
44-51
52
Section 25. That the Board covenant to and VJL. •
■ purchasers of che Beads chat it will make no uJa of thVoro-ceeas
ot the Bonds at any time throughout the cara of f\Vs
issue 01 Bonds which, if such use had been reasonably -oect-d
on the -ata of-delivery of the 3ov.es to and pavnep- >:r "---.a
^oncs dv :he purchasers, vouli have caused the' 3onds r0 -oe
• aroicrage bonds within the meaning of Section L03(c) of "he
. Internal Revenue Code of 195'-, as' amended, or anv're*uiat^ons
; or rulings pertaining tnereto ; and by this covenant the Board
I is oongatec to comply with the requirements of the aforesaid
Section 103(c) and all applicable and pertinent Department
•| ot tne Treasury regulations relating to arbitrage bonds, The
Board further covenants that the proceeds of the Bonds wilf ~
noc otherwise be used directly or indirectly so as to cause
all or any part of che 3onds to be or become arbitrage bonds
j within the meaning of the aforesaid Section 103(c), or anv
,1 regulations or rulings pertaining thereto.
J _ Section 27. That it is hereby officially found and dec— .
1 cunea: tnac a case or emergency or urgent public necessity
I exists which requires the holding of the meeting at which *\Vs
Resolution is adopted, such emergency or urgent°public VecessJ- tv :
being that the proceeds from the sale of said Bonds are required=
as soon as possible and without delay for necessary and urgently'
needed public improvements; and that said meeting was open%o
the public, and public notice of the time, place, and purpose i
ot said meeting was given, all as required by Vernon's Ann.Civ i
St. art. 6252-17, as amended. ' j
Section 23. mat said Bonds are hereby sold and shall
be delivered to CULLZM CE-TTZR 3AiNTK & T?.L?ST t
for cash for the par value thereof and accrued interest thereon
to^date of delivery, plus a premium of $ -Q- It is hereby
officially found, determined, and declared that said purchaser
is the highest bidder for said Bonds as a result of invitations
for competitive bids, and that said Bonds have been sold at
] public sale to the bidder offering the lowest interest cost,
I after receiving sealed bids pursuant to an Official Notice of
.1 Sale and Official Statement, dated March 1, 1979, Dreoared
I and distributed in connection with the sale of said'bonds, .-
1 Said Official Notice of Sale and Official Statement have been
.! and are hereby approved by the 3oard of Regents. It is further
I officially found, determined and declared that the statements
■j and representations contained in said Official Notice of Sale
j and Official Statement are true and correct in all material
) respects, to the best knowledge and belief of the Board of
! Regents.
14
44-52
53
79-74
Upon motion of Regent Samuel, seconded by Regent Powers, with all members
voting aye, it was ordered that the University Woods Apartments - Phase 1
(Nos. 301 - 332) rental rates be set at $320.00 per month for the two-bedroom
apartments and $230.00 per month for the one-bedroom apartments.
79-75
Upon motion of Regent Todd, seconded by Regent. Justice, with all members
voting aye, it was ordered that the Student Union Building Operating Fee
be assessed at $5.00 per student enrolled for course work on the main
campus of the University during the Fall or Spring semesters and $2.50
per student enrolled for course work in each summer session six-weeks1
term, and that this fee become effective with the Fall Semester, 1980.
79-76
Upon motion of Regent Perkins, seconded by Regent Todd, with all members
voting aye, it was ordered that the general fee (Building Use Fee) be
assessed at $6.00 per student semester credit hour enrolled by each stu
dent, with a maximum of $90.00 per student in the Fall or Spring semesters
and a maximum of $36.00 per student enrolled in a summer six-weeks1 term,
and that these fees be effective with the Fall Semester, 1979.
79-77
Upon motion of Regent Justice, seconded by Regent Perkins, with all members
voting aye, it was ordered that the following budget adjustments for the
1979 year be approved:
Acct. Name Reason
Professional Counsel
0§M Expense
SIGI Terminals
Student Assistants
Off-campus summer
instructors
Source of Funds: Education and General Surplus
79-78
Upon motion of Regent Wright, seconded by Regent Todd, with all members
voting aye, it was ordered that the room and board rates for dormitories for
the fiscal year 1980, as approved in the meeting of February 3, 1979, be
amended so as to be increased by $10.00 in each fall and spring semester
and $4.00 in a summer six-weeks1 term.
44-53
54
79-79
Upon motion of Regent Perkins, seconded by Regent Todd, with all members
voting aye, it was ordered that the contract in the amount of $5,078,000
to the Allen M. Campbell Construction Company, Tyler, Texas, for the Uni
versity Center Expansion/Remodeling Project, be approved and the Chairman
of the Board be authorized to sign the contract.
44-54
• '; ,. 55
AGREEMENT BETWEEN OWNER AND CONTRACTOR
THE STATE OF TEXAS
KNOW ALL MEN BY THESE PRESENTS
COUNTY OF NACOGDOCHES
AGREEMENT
Made as of the Nineteenth day of APRIL in the year of Nineteen Hundred and
Seventy Nine
BETWEEN THE OWNER: STEPHEN F. AUSTIN STATE UNIVERSITY, NACOGDOCHES,
TEXAS 75962, acting herein through its Chairman
AND THE CONTRACTOR: ALLEN M. CAMPBELL COMPANY, GENERAL
CONTRACTORS, INC., TYLER, TEXAS
THE PROJECT: UNIVERSITY CENTER ADDITIONS AND RENOVATIONS 1979
THE ARCHITECT: KENT-MARSELLOS-SCOTT,
ARCHITECTS-ENGINEERS
404 PERRY BUILDING
LUFKIN, TEXAS 75901
The Owner and the Contractor agree as set forth below:
44-55
56
ARTICLE 1
THE CONTRACT DOCUMENTS
The Contract Documents consist of this Agreement, the Conditions of the Contract
(General, Supplementary and other Conditions), the Drawings, the Specifications,
all Addenda issued prior to and all Modifications issued after execution of this
Agreement. These form the Contract, and all are as fully a part of the Contract
as if attached to this Agreement or repeated herein. An enumeration of the
Contract Documents appears in Article 7.
ARTICLE 2
THE WORK
The Contractor shall perform all the Work required by the Contract Documents
for
UNIVERSITY CENTER, ADDITIONS AND RENOVATIONS 1979,
STEPHEN F . AUSTIN STATE UNIVERSITY
NACOGDOCHES, TEXAS
ARTICLE 3
TITLE OF COMMENCEMENT AND SUBSTANTIAL COMPLETION
The Work to be performed under this Contract shall be commenced on or before
a date to be specified in a written "Notice to Proceed11 by the Owner and,
subject to authorized adjustments, Substa